Gold continues to rise with focus on Fed meeting minutes

2021-10-13 12:07:58 GMT (Economies.com)
Gold continues to rise with focus on Fed meeting minutes

Gold prices rose on Wednesday, extending gains for the second straight day, ahead of key US inflation data, and the release of the US Fed meeting minutes.

 

Gold prices rose 0.75% to $1,773.24 an ounce, after opening at $1,760.05, and hit a high of $1,759.47.

 

Gold closed higher by 0.35% yesterday, after the US Treasury bonds' rally halted..

 

The 10-year US Treasury yield fell 0.5% today, deepening losses for the second straight day, and pulled back further from a 4-month high of 1.636%, which lifts demand for gold.

 

At 12:30 GMT, the US consumer price index is expected up by 5.4% y/y in September from 5.3% in August, and the monthly reading is expected at 0.3% unchanged from the previous reading.

 

And by 18:00 GMT, the Federal Reserve will release the minutes of its last September's meeting, during which the central bank hinted the possibility of starting taper the bond-buying program soon.

 

Gold stocks at the SPDR ETF remained unchanged yesterday, with the total at the lowest level since April 6, 2020 of 985.05 metric tonnes.

 
 
 
  Symbol Last Change Chg.%
1.1600
-0.0012
0.0999%
1.3738
-0.0031
0.2280%
Tadawul
11807.79
-43.89
0.37%
24.076
-0.400
1.634%
82.055
-2.872
3.382%
84.18
-2.23
2.58%
1797.465
-6.580
0.365%
 
 
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