The metal rises while investors wait for the minutes from the Fed’s March meeting
A Pakistani customer checks gold jewellery at a shop in Karachi, Pakistan. Picture: AFP/ASIF HASSAN
“The dollar index is pulling back from multiweek highs,” said Margaret Yang, a market analyst with CMC Markets, Singapore, adding that a softer dollar is acting as a tailwind for gold. The moderation in wage growth supported the Fed’s decision to suspend further interest rate increases in 2019.The markets are now awaiting the minutes of the Federal Open Market Committee’s March policy meeting, due on Wednesday, for cues on Fed’s future monetary policy stance.
Gold had slipped to its lowest since January 25 at $1,280.59 in the previous week, mainly pressured by rising equities on optimism around the Sino-US trade deal.
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