Monday , October 3 2022

With the dollar and US revenues declining, gold is jumping 2% and the market is waiting for minutes from the US Central Commission.



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© Reuters. Gold bars in Munich with a photo from the Reuters archive.

(Reuters) – With cuts and gains rising 2 percent on Wednesday, investors waited for the minutes of the latest monetary policy meeting from the Federal Reserve to approve a strategy to ease stimulus measures.

At 1610 GMT, it rose 1.9 percent to $ 1,793.86, its highest level in nearly four weeks.

US gold futures rose 2.1% to $ 1,795.60.

Other precious metals (SE 🙂 led by gold, rose 2.7 percent in spot transactions to $ 23.15 an ounce, up 3.4 percent to $ 2,114.71. Platinum rose 1.2 percent to $ 1,018.96.

The yellow metal was supported by the weakening dollar and feared that rising inflation would hurt global economic growth.

Investors are waiting for the minutes of the September meeting of the US Federal Reserve, which will be broadcast at 1800 GMT, amid expectations that economic support will begin to decline next month.

(Prepared by Vajdi Al-Alfi for the Arabic Bulletin)

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