Gold rises as traders await the minutes of the Federal Reserve meetings
Gold prices rose more than 1% today, Wednesday, recovering from their lowest level in a week, while traders are currently awaiting details Federal Reserve Board meeting minutes for January, scheduled to be announced today.
The price of gold in spot transactions increased by 1.2% to $4,963 per ounce by 12:55 GMT, and US gold futures (April delivery) also rose by 1% to $4,958 per ounce.
Meanwhile, the spot price of silver rose by 3.3% to $75.98 per ounce after falling by more than 5% on Tuesday.
And in precious metals Elsewhere, the price of platinum rose by 1.8% to $2,043.38 per ounce, while palladium rose by 2.1% to reach $1,718.03.
Meanwhile, investors are also awaiting the US personal consumer spending report for December, scheduled for release on Friday, to determine the Federal Reserve’s monetary policy this year.
Markets are currently anticipating the first US Interest in June, according to the tool "Feed Watch" of the Chicago Mercantile Exchange.
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