© Reuters. Gold bars in a vault in Monaco (Photo Reuters).
(Reuters) – It rallied slightly on Wednesday as investors await November’s (US central bank) monetary policy meeting minutes, which could provide guidance on the path to interest rate hikes.
Prices rose 0.2% to $1,744.01 an ounce by 12:52 GMT, and US gold futures rose 0.2% to $1,743.90.
The Federal Reserve Monetary Policy Committee meeting minutes are expected to be announced at 19:00 GMT. Traders expect the bank to hike interest rates by 50 basis points at its December meeting, leading interest rates to a peak in June.
The Federal Reserve has hiked interest rates a total of 375 basis points several times this year, from near zero to a range of 3.75 to 4 percent, as part of the fight against rising interest rates. inflation, the fastest rate increase since the 1980s.
Gold also benefited from a 0.8% drop, making the precious metal more attractive to holders of other currencies, with yields also falling on Wednesday.
As for other precious metals, it rose in spot transactions by 1% to $21.29 an ounce, while platinum fell 0.3% to $987.52 an ounce and was up 0. 9% to $1877.25 an ounce.
(Prepared by Amira Zahran for the Arab Bulletin – Edited by Hassan Ammar)
