Gold regained its balance after losing about 2 percent in the last session, with the decline of the dollar’s rally, but the precious metal’s gains are likely to be limited to a narrow range due to Federal Reserve Chairman Jerome Powell’s indication of more interest increases.
Gold rose in spot trading 0.3 percent to 1819.57 dollars, after hitting the lowest level since February 28 at 1809.27 dollars. US gold futures rose 0.2 percent to $1,823.50.
And the dollar fell from its highest level in months, which reduces the cost of gold for holders of other currencies. Gold fell about 2 percent after Powell’s comments yesterday.
Silver increased 0.1 percent to 20.08 dollars, while platinum rose 1.6 percent to 944.21 dollars, and palladium prices increased 0.7 percent to 1396.53 dollars.
