For its part, Fed policymakers on Wednesday again expressed their determination to curb persistent inflation, though one of them indicated that a half percentage point hike in the key US central bank interest rate next month might be enough.
Gold is very sensitive to rising interest rates, as those moves increase the opportunity cost of holding non-performing bullion.
to support gold10-year US Treasury yields fell from their highest levels in more than a week, and the dollar also lost ground.
“We’ve seen an increase in tension between the US and China, so that’s an additional reason why gold has been well supported going into the morning,” Meger added.
China fired multiple missiles near Taiwan in its largest-ever military exercises in the Taiwan Strait, a day after US House Speaker Nancy Pelosi visited the island.
Investors also took stock of data that showed the number of Americans filing new jobless claims rose last week, and they’re keeping an eye on the US nonfarm payrolls report which will be published on Friday.
Investors are also watching US employment data to be released on Friday.
The silver in cash went up a 0.8% a u$s20.20 the ounce. The platinum advanced a 3.4% a u$s928.71 and the palladium won a 2.7% a $2,070.58.
Source: Ambito
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