Gold prices gain slightly in Asia, all eyes on Fed By Investing.com

Meanwhile, recent data from BullionVault suggested demand for the yellow metal eased in February. The Fed's decision to lift interest rates for the second time in three months sent the dollar and US Treasury yields tumbling. The yellow metal edged up $5.30 to $1,235.50 per ounce, hitting a two-week high, after making substantial gains following the Federal Reserve's decision to hike interest rates last week. Read more: The Fed has hiked interest rates, sending the dollar tumblingEarlier this month, the safe haven asset dipped below $1,200 an ounce. Courtney GoldsmithGold has built on gains made last week as the US dollar slides to six-week lows.


as informed in

Gold prices gain slightly in Asia, all eyes on Fed By Investing.com

Gold egdes up in AsiaInvesting.com - Gold prices rose slightly in Asia on Monday with the focus ahead on Fed policymaker comments this week. A gradual path to higher rates is seen as less of a threat to gold prices than a swift series of increases. Last week, gold prices rose on Friday as expectations of a slower pace of U.S. interest rates hikes than some investors had anticipated continued to weigh on the dollar. Expectations for a slower pace of monetary tightening pressured the dollar to five week lows against a basket of the other major currencies. Gold for April delivery inched up 0.02% to $1,230.40 a troy ounce on the Comex division of the New York Mercantile Exchange.




Gold prices have seen a rebound after the U.S. Federal Reserve raised its benchmark rate by 25 basis points last week. Since then, the weakness in the dollar has led to further strength in gold prices. Nitesh Shah, director, economist and commodity strategist at ETF Securities, told CNBC via email that he expects gold prices to rise to US$1300 an ounce by mid-year. "We expect gold to rise to US$1300/oz by mid-year (over 5% gain), before declining back to current levels by year-end. But a number of analysts believe that gold will continue to rise further.


collected by :John Miller

read more visit us forex