Gold is down but making small moves ahead of the central policy meeting

Gold fell in Asia on Tuesday morning, following its losses following a month-long low during the previous session. Investors are looking to the U.S. for further clues on inflation and the central bank’s future monetary policy. Waiting for the Federal Reserve policy decision.

Gold futures fell 0.12% to 8,863.60.

The dollar, which normally moves in the opposite direction to gold, depreciated on Tuesday. The 10-year Treasury yield was close to a three-month low of 1.50%.

The central bank will open its two-day policy meeting later in the day, with its latest results due on Wednesday.

U.S. Consumer Price Index, released earlier this month. Consumer price data also gave a boost to the yellow metal.

However, rising inflation concerns may indicate an earlier property knockout than expected. The U.S. With the recovery in the job market not smooth, investors are widely expecting such an announcement in the next quarter.

For the second time in less than a decade, the central bank will discuss its unprecedented asset-purchase program, when and how the sun will set, during the COVID-19.

The U.S. with retail and industrial production figures. The producer price index will also be released later in the day by investors.

In the Asia-Pacific region, the Reserve Bank of Australia released the minutes of its latest meeting the previous day. Elsewhere in the region, the Bank of Japan is due to hand over its policy decision on Friday.

Their policy decisions were presented on Thursday by Europe, the Swiss National Bank, and Norges Bank.

Among other precious metals, silver rose 0.1%, palladium 75 2,751.68 and platinum 0.2%.

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