"Markets will want to see if the Fed will modify its language as some expect, perhaps something to the effect that it will keep rates low for a period of time or maybe do the same thing with its inflation language," said Edward Meir, an analyst at ED&F Man Capital Markets, in a note.
"But, we doubt the Fed will lock itself into such a fixed language ahead of a potential turn in the US economy." Lower US interest rates put pressure on the dollar and bond yields, increasing the appeal of non-yielding bullion. Gold also is used as a hedge against inflation and currency debasement.US House of Representatives Speaker Nancy Pelosi said Democrats were open to delaying an October recess to get a deal with Republicans on a new coronavirus aid bill.
Elsewhere, silver fell 0.1 per cent to US$27.20 per ounce, platinum dropped 0.7 per cent to US$971.11 and palladium slipped 1.4 per cent to US$2,375.83.For daily updates on weekdays and specially selected content for the weekend. Subscribe to
Source: News Formal (newsformal.com)
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Gold gains on weaker US dollar, investors await Fed meeting[BENGALURU] Gold prices rose on Monday, supported by a weaker dollar and expectations that the US Federal Reserve will adopt a dovish stance at its two-day monetary policy meeting later this week. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »
Gold rises on softer US dollar, investors focus on Fed meeting[BENGALURU] Gold prices rose on Tuesday as the US dollar remained subdued, with investors turning their focus to a US Federal Reserve (Fed) monetary policy meeting, seeking details of its plans on inflation targeting. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »
US: Wall Street climbs at open as Fed meeting kicks off[NEW YORK] US stocks opened higher on Tuesday as upbeat data from China revived optimism around an economic rebound, while investors looked for more stimulus from the Federal Reserve as the central bank kicks off a two-day meeting. Read more at The Business Times. Are you looking for professional Business Card Design ? Here i am. I will do custom professional and unique Business card in 24 hour. Starting at $5 . DM me or ...... Order now :
Source: BusinessTimes - 🏆 15. / 51 Read more »
Family of US police shooting victim settles civil case for US$12 millionRelatives of Breonna Taylor, a black woman killed in a police shooting in her own home, announced Tuesday they have settled their wrongful death ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Commentary: Why gold is still a safe haven in times of crisisWith the COVID-19 crisis, interest in gold has soared, driving its price to historic highs, says an observer.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Pompeo says US-NKorea talks are ongoing behind scenesUS Secretary of State Mike Pompeo admitted Tuesday that the hoped-for progress in negotiations with nuclear-armed North Korea has not materialized, but talks are ongoing.
Source: YahooSG - 🏆 3. / 71 Read more »