Gold prices firmed on Wednesday as the dollar weakened, with investors awaiting the U.S. Federal Reserve's latest policy meeting minutes and inflation data for signs of how close interest rates are to peaking.
Spot gold rose 0.3% to $2,008.19 per ounce by 1102 GMT. U.S. gold futures was up similarly to $2,025.00.
"The Fed minutes will be closely scrutinised for key insight into how policymakers evaluated the need for higher rates despite the turmoil in the banking sector," said Lukman Otunuga, senior research analyst at FXTM.said lingering financial system vulnerabilities could erupt into a new crisis, but urged member countries to keep tightening monetary policy to fight inflation.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Gold Price Forecast: XAU/USD reaches near $2,000 after recovery as investors ignore hawkish Fed betsGold price (XAU/USD) has taken its recovery to near the psychological resistance of $2,000.00 in the Asian session. The precious metal has regained tr
Read more »
Gold Price Forecast: XAU/USD soars above $2,010 as Fed policymakers see quick US Inflation softeningGold price (XAU/USD) has shown a quick move above the critical resistance of $2,010.00 in the Asian session. The precious metal has jumped above $2,01
Read more »
Gold Technical Analysis: Gold is Selling OffAt the beginning of trading this week, XAU/USD (gold) futures fell as investors continued to book profits after the yellow metal touched record highs.
Read more »
Fed’s Harker: Fed to closely look data to see if more rate hikes are neededFed’s Harker: Fed to closely look data to see if more rate hikes are needed – by anilpanchal7 Fed RiskAppetite DollarIndex InterestRate NewsTrading
Read more »
Gold Price Forecast: XAU/USD rebound appears elusive amid hawkish Federal Reserve betsGold price (XAU/USD) snaps three-day losing streak as it prints mild gains around $1,995 while bouncing off one-week low during Tuesday’s Asian sessio
Read more »
Gold Price Forecast: XAU/USD bulls await United States inflation, Federal Reserve Minutes for fresh rallyGold price (XAU/USD) grinds higher past $2,000, mildly bid near $2,005 during early Wednesday in Asia. In doing so, the bright metal cheers a broad US
Read more »