Investors.com waits for the minutes of the last meeting of the Fed above Gold Dollar Dollar
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© Reuters.
By Gina Lee
Investing.com – Gold rose in Asia on Wednesday morning after hitting a three-week high in the previous session. A weakening gave the yellow metal a boost as investors waited.
They rose 0.25% to $ 1,798.60 after rising to a peak on June 17 at 00:41 ET (04:41 GMT) in the previous session.
The dollar, which is reversing gold, fell on Wednesday, but was close to a three-month hit last week. The benchmark yield on the 10-year-old U.S. Treasury has also fallen to a four-month high.
The Fed is expected to provide some keys to the minutes of the June 2021 meeting, which will be released on the same day. They could also shed light on the Fed’s surprise turn given after that meeting.
In the face of the data, what was released on Tuesday was 60.1 for June, as the shortage of manpower and raw materials could be lower than expected.
Across the Atlantic, data released on Tuesday also showed a significant drop to 63.3, below 75.2 of the forecast prepared by Investing.com and 79.8 in June.
In addition, forecasts were also lost, with a 3.7% monthly contract in May, up from a 1% increase in the forecasts prepared by Investing.com and a 1.2% increase in April.
In other precious metals, silver fell by 0.2%, palladium fell by 0.5% and platinum by 0.6%.
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