View full page at metalsmine.com

 

Gold gains as US dollar pauses advance; traders eye Fed cues

From brecorder.com

Gold rose on Tuesday as the dollar eased, with focus turning to minutes from the U.S. Federal Reserve’s November meeting for clues on future rate hikes. Spot gold rose 0.4% to $1,745.13 per ounce, as of 0433 GMT. U.S. gold futures gained 0.4% to $1,746.00. Gold recouped some losses from the previous session, when investors preferred the safety of the dollar amid fresh COVID-19 curbs in China.On Tuesday, the dollar paused its advance, making gold cheaper for overseas buyers. The Fed minutes are due at 1900 GMT, with most traders betting on a 50-basis point hike in December. Chances of a 75-bps hike were pegged at 19% ... (full story)

Story Stats

  • Posted:
  • Category: Fundamental Analysis