Gold rose above $1,800 an ounce, once again, as investors took risks ahead of the release of the Federal Reserve's meeting minutes that should bring new insight into monetary policy. American.
According to Arab Net, the yellow metal rose 0.3% to $1802.60 by 10:01 am Shanghai time, gaining 1.8% so far this month. Silver and platinum prices stabilized, while palladium fell 0.4%.
The minutes of the Fed's June meeting will be carefully scrutinized for further clues about the Fed's view of interest rates, the asset purchase program and the economic outlook.< /p>
Gold is looking to its highest close in three weeks, as inflation-adjusted Treasury yields boosted the metal's allure after its worst monthly performance since 2016 in June.< /p>
Australia and New Zealand Banking Group Ltd. said in an email note: The tone of risk has led to a surge in investor demand for safe-haven assets, Bloomberg reports.
Shares in Asia fell, tracking declines on Wall Street, amid renewed concerns about the economic recovery.
Gold has had a volatile year, with the sharp drop in June driven by higher Treasury yields and a strong dollar, and bets that governments will begin to rein in the monetary stimulus it has pushed into. epidemic. But the economic risks lingering in weaker-than-expected numbers for the US service sector were highlighted.
