Comex gold contract Delivered in Dec. rose $5.40 to close at $1,798.80 an ounce.
A weaker dollar will increase the attractiveness of gold. by making gold contracts cheaper for holders of other currencies The fall in US government bond yields. It will reduce the opportunity cost of holding gold. Because gold is an asset that does not return in the form of interest.
Investors slow down trading. Before the monetary policy meeting of many central banks
The Bank of Japan (BOJ) and the European Central Bank (ECB) will meet today. next week Reserve Bank of Australia meeting on Tuesday, Federal Reserve (Fed) meeting on Tuesday and Wednesday. The Bank of England (BOE) and the Bank of Norway held meetings on Thursday.
Investors are expecting the Fed to cut its bond-buying program in line with its quantitative easing (QE) measures at this meeting.
Meanwhile, the BOE may raise interest rates for the first time since the coronavirus outbreak last year.
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