Gold gains over 1% as oil, yields slip ahead of Fed rate decision
Gold rose over 1% on Wednesday as oil prices and U.S. Treasury yields declined, while investors awaited the U.S. Federal Reserve’s interest-rate decision and remarks from Chair Kevin Warsh later in the day for clues on future monetary policy path. Spot gold was up 1.4% at $4,353.82 per ounce as of 09:25 a.m. EDT (1325 GMT) after touching a more than one-month low on Monday. U.S. gold futures for…
Gold experienced a gain of over 1% on Wednesday, driven by declines in oil prices and U.S. Treasury yields as investors awaited the Federal Reserve's interest-rate decision and Chair Kevin Warsh's remarks. Spot gold rose 1.4% to $4,353.82 per ounce, while U.S. gold futures for December delivery increased by the same percentage. Analysts noted that the market had largely priced in a potential Fed rate hike, and the drop in oil prices and yields suggested a more cautious approach to tightening monetary policy.
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