Gold prices rose on Tuesday as the US dollar and bond yields declined, although investors were cautious as markets awaited policy expectations from the Federal Reserve’s two-day meeting starting later Tuesday.<\/p>\n\n\n\n
And gold rose in immediate trading 0.5% to $ 1641.43 an ounce by 0548 GMT, after earlier touching its lowest level since October 21.<\/p>\n\n\n\n
US gold futures rose 0.1 percent to $1,642.20 an ounce.<\/p>\n\n\n\n
The dollar index fell 0.4 percent, strengthening the attractiveness of gold to buyers outside the United States, while the yields of the benchmark 10-year Treasury bonds also fell.<\/p>\n\n\n\n
Stephen Innes, managing partner at SBI Asset Management, said comments at the press conference following the Fed meeting may set gold’s next move in the $25-$50 range.<\/p>\n\n\n\n
At the end of the meeting on monetary policy, which extends for two days and ends on Wednesday, the central bank is expected to decide on a fourth consecutive increase of 75 basis points in interest rates, and a debate is expected in the bank over when to move towards lower increases.<\/p>\n\n\n\n
Gold prices have fallen about 12 percent since they topped the $2,000 an ounce level in March, at a time when the US Federal Reserve raised interest rates at a rapid pace.<\/p>\n\n\n\n
As for other precious metals, silver rose in spot trading by 1.9 percent to $ 19.50 an ounce, platinum rose 0.8 percent to $ 932.99, and palladium rose 1.3 percent to $ 1865.40.<\/p>\n","protected":false},"excerpt":{"rendered":"
Gold prices rose on Tuesday as the US dollar and bond yields declined, although investors were cautious as markets awaited policy expectations from the Federal Reserve’s two-day meeting starting later Tuesday. And gold rose in immediate trading 0.5% to $ 1641.43 an ounce by 0548 GMT, after earlier touching its lowest level since October 21. …<\/p>\n","protected":false},"author":9,"featured_media":71340,"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":[38,36],"tags":[6874,8949,6984,8950,6871],"class_list":["post-74895","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-market-updates","tag-gold","tag-pce-data","tag-treasury-yields","tag-university-of-michigan-consumer-sentiment","tag-usd"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/74895","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=74895"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/74895\/revisions"}],"predecessor-version":[{"id":74896,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/74895\/revisions\/74896"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/71340"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=74895"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=74895"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=74895"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}