Gold high, dollar tumbles as investors await Fed minutes

(mtag101702) Editor: Gina Lee

investing. com – Gold rose in Asia on Tuesday, approaching two-week highs. a weak dollar also supported the yellow metal. Investors now own the U.S. Fed. meeting minutes pending.

After hitting $1,794.86 on Friday, the highest since June gold futures processes rose 0.80% to $1,797.65. Moving mostly on the opposite side of gold, the dollar fell on Tuesday morning after hitting three-month highs at the end of last week.

US markets were closed on Monday for a holiday.

Investor interest will be sought in the Fed minutes, which will be released Wednesday, and clues about the central bank’s use of a surprising hawkish tone in its policy decision after that meeting. In addition, we will learn during the day Bank of Australia policy decision is also eagerly awaited.

Japan’s household spending on the data front, in May from year to year grew 11.6%. investing. Although it was above the 10.9% growth claim prepared by com, it was below the 13% growth rate in April. month to month shrank by 2.1%.

June in Europe Markit composite purchasing managers index (PMI) 59.5 points service PMI reading was 58.3 points. Both exceeded expectations, with business growing at the fastest pace in 15 years.

On the other hand, the US Institute of Supply Management (ISM) non-manufacturing PMI reading will be published.

Global equities remained close to record highs on Monday, bolstered by European information and the latest US jobs report. However, the worries about the Delta variant continue.

On the other hand, Postal Savings Bank of China suspended new account openings to operate in the spot precious metals market due to price fluctuations and high process risks.

Among other precious metals, silver fell 0.1%, while palladium rose 0.3% and platinum 0.5%.

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