Gold futures up a second session, at highest in 2 weeks
Gold futures settled with a gain on Tuesday to tally the highest finish in two weeks, as traders awaited the outcome of the Federal Reserve’s two-day meeting, which concludes Wednesday with a statement on monetary policy. "Overall, sentiment for gold is mixed as the economy continues to recover and inflation remains relatively muted," said Jason Teed, co-portfolio manager of the Gold Bullion Strategy Fund . If the Fed decides to use asset purchasing to suppress recent increases in Treasury yields, that "could prove to be relatively bullish for the metal," he said. "The Fed's overall dovish stance would usually be a tailwind for gold, however, sentiment in the economy may overpower the Fed's typical effects." April gold rose $1.70, or 0.1%, to settle at $1,730.90 an ounce, the highest most-active contract finish since March 2, FactSet data show.
Gold prospects settled with an increase on Tuesday to count the most noteworthy completion in about fourteen days, as brokers anticipated the result of the Federal Reserve's two-day meeting, which closes Wednesday with an assertion on money related approach. "Generally speaking, notion for gold is blended as the economy proceeds to recuperate and swelling remains moderately quieted," said Jason Teed, co-portfolio supervisor of the Gold Bullion Strategy Fund . In the event that the Fed chooses to utilize resource buying to stifle ongoing expansions in Treasury yields, that "could end up being moderately bullish for the metal," he said. "The Fed's by and large timid position would normally be a tailwind for gold, notwithstanding, notion in the economy may overwhelm the Fed's run of the mill impacts." April gold rose $1.70, or 0.1%, to settle at $1,730.90 an ounce, the most noteworthy most-dynamic agreement finish since March 2, FactSet information show.