Media ININ Economy We Trust
The price of gold rose on Tuesday as the dollar weakened, while investors’ focus turned to the minutes of the US Federal Reserve’s November meeting in search of guidance on future interest rate hikes.
And gold rose in immediate transactions 0.4 percent to $ 1745.13 an ounce (an ounce) at 0433 GMT. US gold futures also increased 0.4 percent to $1,746.00.
Gold compensated some of the losses of the previous session, when investors preferred to buy the dollar as a safe haven amid new restrictions to combat Covid-19 in China.
The dollar’s rally stalled on Tuesday, making gold cheaper for buyers outside the United States.
Gold compensated some of the losses of the previous session, when investors preferred to buy the dollar as a safe haven amid new restrictions to combat Covid-19 in China.
The dollar’s rally stalled on Tuesday, making gold cheaper for buyers outside the United States.
The Federal Reserve’s meeting minutes are due at 1900 GMT, with most traders betting on a 50 basis point rate hike in December.
Gold is considered a hedge against inflation, but high interest rates discourage investment in the precious metal, which does not generate a fixed return.
Spot silver rose 1.4 percent to $21.14 an ounce, platinum rose 1.4 percent to $995.63 and palladium rose 0.7 percent to $1878.00.
