Gold rises as market watches for US inflation data, Fed minutes

  • 📰 Reuters
  • ⏱ Reading Time:
  • 20 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 11%
  • Publisher: 97%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

Gold prices firmed on Wednesday as the dollar weakened, with investors awaiting the U.S. Federal Reserve's latest policy meeting minutes and inflation data for signs of how close interest rates are to peaking.

Spot gold rose 0.3% to $2,008.19 per ounce by 1102 GMT. U.S. gold futures was up similarly to $2,025.00.

"The Fed minutes will be closely scrutinised for key insight into how policymakers evaluated the need for higher rates despite the turmoil in the banking sector," said Lukman Otunuga, senior research analyst at FXTM.said lingering financial system vulnerabilities could erupt into a new crisis, but urged member countries to keep tightening monetary policy to fight inflation.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 2. in NG
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Highly expected.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines