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Gold advances on US dollar pullback; spotlight on Fed
Gold prices snapped a four-session slump to rise on Tuesday, propped up by a retreat in the dollar while investors awaited cues on the U.S. Federal Reserve's monetary policy path. Spot gold was up 0.5% at $1,746.91 per ounce as of 1154 GMT. U.S. gold futures rose 0.5% to $1,748.50. "The U.S. dollar's stalling rebound is offering spot gold the chance to find a firmer footing around the mid-$1700 region for the time being," said Han Tan, chief market analyst at Exinity. Making gold less expensive for overseas buyers, the dollar retreated from strong overnight gains that saw investors flocking to the safe-haven ... (full story)
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- Posted: Nov 22, 2022 7:52am
- Submitted by:Category: Fundamental AnalysisComments: 1 / Views: 156
