Gold Up stands at $ 1,800 ahead of the latest central bank policy decision

Gold rose in Asia on Wednesday morning, with the US gaining ground. As investors wait for the Federal Reserve’s latest policy decision, the key psychology is close to $ 1,800.

Gold futures rose 0.36% to $ 1,806.35. The dollar rose on Wednesday but was below the three-and-a-half-month high reached in the previous week.

The central bank will hand over its decision later, and then President Jerome Powell will speak at a press conference. Both the results and Powell’s comments will be scrutinized for typographical assets of the central bank over time and for traces of interest rate hikes.

The data, released on Tuesday, shows that the U.S. The Convention Board (CB) Consumer Confidence Index was 129.1, the highest level in 17 months. The reading pointed out that housing spending is on the rise, even amid inflationary pressures, indicating that the U.S. economy is sustaining its strong growth as it continues into the third quarter.

The figure was higher than 123.9 in the forecasts made by Market Tracker and also won the previous month’s 128.9 reading.

The U.S. is to be released on Thursday. Investors are now waiting for second-quarter GDP data.

On the same day, the International Monetary Fund (IMF) maintained its 6% global growth forecast for 2021. While improving its outlook for the United States and other economies, the International Monetary Fund lowered its forecasts for other countries. Delta variant.

In the Asia-Pacific region, Australia’s second-quarter consumer price index (CPI) grew by 0.8% year-on-year and 3.8% year-on-year. The country’s organized average CPI grew by 0.5% on a quarterly basis and 1.6% year-on-year.

Among other precious metals, silver per ounce. 24.67, hitting a four-month low of $ 24.46 on Tuesday. Palladium is down 0.1% and platinum is up 0.22%.

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