Gold prices rose on Tuesday, supported by a weak dollar, as investors await more clarity on the Federal Reserve’s position regarding raising interest rates.<\/p>\n\n\n\n
Spot gold rose 0.7 percent to $1,753.34 an ounce at 0651 GMT. US gold futures rose 0.7 percent to $1,752.60.<\/p>\n\n\n\n
Bullion prices fell about 1 percent in the previous session after hawkish comments from US Federal Reserve officials. Council members James Bullard and John Williams said there was still a long way to go to fight inflation.<\/p>\n\n\n\n
The dollar index fell 0.4 percent, making gold cheaper for buyers abroad. Gold is also sensitive to rising interest rates because it increases the opportunity cost of holding non-yielding assets.<\/p>\n\n\n\n
Investors’ focus will now be squarely on Federal Reserve Chairman Jerome Powell, who is scheduled to speak at a Wednesday’s conference at the Brookings Institution.<\/p>\n\n\n\n
Meanwhile, Chinese police have been deployed in large numbers in Beijing and Shanghai to prevent further protests against the COVID-19 restrictions.<\/p>\n\n\n\n
In terms of other metals, silver rose in spot transactions 1.4 percent to 21.20 dollars, platinum increased 1.1 percent to 999.54 dollars, and palladium rose 1.5 percent to 1872.88 dollars.<\/p>\n","protected":false},"excerpt":{"rendered":"
Gold prices rose on Tuesday, supported by a weak dollar, as investors await more clarity on the Federal Reserve’s position regarding raising interest rates. Spot gold rose 0.7 percent to $1,753.34 an ounce at 0651 GMT. US gold futures rose 0.7 percent to $1,752.60. Bullion prices fell about 1 percent in the previous session after …<\/p>\n","protected":false},"author":9,"featured_media":72288,"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":[6832,6874,8367],"class_list":["post-76395","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-market-updates","tag-china","tag-gold","tag-us-dollar"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/76395","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=76395"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/76395\/revisions"}],"predecessor-version":[{"id":76396,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/76395\/revisions\/76396"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/72288"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=76395"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=76395"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=76395"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}