Gold rises on dollar pullback; clarity on Fed policy awaited

Gold rises on dollar pullback; clarity on Fed policy awaited
# 18 April 2023 09:04 (UTC +04:00)

Gold prices rose on Tuesday after two sessions of losses as the dollar eased, while investors sought more clarity on the U.S. Federal Reserve's monetary policy stance, APA-Economics reports citing Reuters.

Spot gold was up 0.3% at $2,001.09 per ounce, as of 0310 GMT. U.S. gold futures rose 0.3% to $2,012.40.

"Given the sharp moves of late and little tier-1 economic data to guide this week, we should expect gold to consolidate in the $1,980-$2,020 range," said OCBC FX strategist Christopher Wong.

Spot silver fell 0.2% to $25.06 per ounce, platinum added 0.2% to $1,050.24 and palladium gained 0.6% at $1,569.67.

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