, pub-9809009992858082, DIRECT, f08c47fec0942fa0

Gold hits 2-week high as dollar eases ahead of Fed meet

[ad_1], pub-9809009992858082, DIRECT, f08c47fec0942fa0
Gold prices hit two-week highs on Tuesday, with the US dollar losing its grip on six-month highs scaled last week, with attention focused on the Federal Reserve’s two-day policy meeting that begins later in the day. FUNDAMENTALS Spot gold was steady at $1,932.79 per ounce by 0058 GMT, having hit its highest since Sept. 5 earlier in the session.

US gold futures were up 0.1% at $1,954.30 per ounce. The US dollar eased 0.1% against its rivals, making gold less expensive for overseas buyers, ahead of key central bank policy decisions by United States, Britain and Japan over the week. US Federal Reserve officials, who have attemptedly embraced the possibility they can squelch inflation without a recession, meet this week with an autoworkers strike, a possible federal government shutdown, and a student loan squeeze on consumers posing new risks to that best-case outcome.

European Central Bank policymakers want to soon start discussing how to tackle the multi-trillion-euro pool of excess liquidity sloshing around banks, with raising reserve requirements a possible first move, six sources told Reuters. Hecla Mining said on Monday production at its Idaho mine, which earlier reported a fire, was likely to remain suspended throughout this year, prompting the company to lower its silver output forecast for the period. Spot silver edged 0.1% higher to $23.24 per ounce, platinum was flat at $933.10 and palladium jumped 1.1% to $1,249.07.

(What’s moving Sensex and Nifty Track latest market news, stock tips and expert advice we ETMarkets. Also, is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds.)

Download The Economic Times News App to get Daily Market Updates & Live Business News.

Top Trending Stocks: Sensex Today Live, SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price


Source link

Laisser un commentaire

Votre adresse e-mail ne sera pas publiée. Les champs obligatoires sont indiqués avec *