Gold prices rose on Wednesday after falling in the previous session with the yellow metal retaining its allure as a hedge against inflation ahead of the release of the minutes of the Federal Reserve meeting later on Wednesday.<\/p>\n\n\n\n
Spot gold rose 0.1 percent to $1,854.97 an ounce by 1030 GMT. US gold futures settled at $1,858.30.<\/p>\n\n\n\n
Higher interest rates increase the cost of holding non-yielding bullion.<\/p>\n\n\n\n
Market participants are awaiting the minutes of the Federal Reserve’s meeting, which was held on January 25-26, and is scheduled for release at 1900 GMT on Wednesday.<\/p>\n\n\n\n
Gold touched its highest level since June last year on Tuesday, before rebounding to close down nearly 1% after the Russian Defense Ministry said it was returning some troops to their bases after exercises near Ukraine.<\/p>\n\n\n\n
As for other precious metals, the price of silver in spot transactions rose 0.4 percent to $23.43 an ounce, and platinum rose 0.4 percent to $1029.89, as well as palladium 0.4 percent to $2256.55.<\/p>\n","protected":false},"excerpt":{"rendered":"
Gold prices rose on Wednesday after falling in the previous session with the yellow metal retaining its allure as a hedge against inflation ahead of the release of the minutes of the Federal Reserve meeting later on Wednesday. Spot gold rose 0.1 percent to $1,854.97 an ounce by 1030 GMT. US gold futures settled at …<\/p>\n","protected":false},"author":9,"featured_media":59584,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[38,37,36],"tags":[8121,6885,8444,8143,8109,7820,8592],"class_list":["post-60344","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-forex-markets","category-market-updates","tag-bullard","tag-fed","tag-hawkish-language","tag-interest-rate-hikes","tag-q2","tag-risk-appetite","tag-russian-ukranian-crisis"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/60344","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=60344"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/60344\/revisions"}],"predecessor-version":[{"id":60345,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/60344\/revisions\/60345"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/59584"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=60344"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=60344"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=60344"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}