He gold rises this Tuesday before a drop in the dollar, in a day in which operators are preparing to learn more economic data in search of clues about the path of increases in interest rates Worldwide.
Spot gold rose 0.57% to $2,002.12 an ounce, and US gold futures rose 0.65 to $2,017.05.
Investors wait until Wednesday to know the US consumer price data and the minutes of the monetary policy meeting of the Federal Reserve (FED) to be clearer about the path that rates will follow, ahead of the meeting with the US central bank in May.
“US real rates remain a major driver for gold, but if the fed it puts an end to the hikes and eventually rates go down,” said Giovanni Staunovo of UBS. And the analyst expects that this should weaken the dollar and help gold.
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Gold is traditionally seen as a hedge against inflation, but raising rates to curb upward price pressure hurts the non-interest-bearing bullion’s appeal.
For its part, silver gains 0.5%, to $25.03 an ounce; platinum rises 0.6%, to u$s998.02, and palladium improves 1.5%, to u$s1,432.48.
Source: Ambito
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