Gold prices rise as US Fed’s dovish policy remain
- Date: 29-Apr-2021
- Source: Gulf Today
- Sector:Economy
- Country:Middle East
Gold prices rise as US Fed’s dovish policy remain
Picture used for illustrative purpose. File
Gulf Today Report
Gold prices rose on Thursday following a decline in the dollar after the US Federal Reserve decided to keep interest rates low.
Spot gold was up 0.2% at $1,784.26 per ounce by 05:38 GMT while US gold futures rose 0.6% to $1,784.40 per ounce.
Jeffrey Halley, OANDA senior market analyst said, "the Fed stayed close to its dovish message overnight at its latest FOMC meeting. With this risk point removed, investors rushed back into the global recovery trade, pushing the dollar lower, with US bond yields remaining unchanged."
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