Rising U.S. Gold fell on Wednesday morning in Asia against the Treasury yield. For more information on the direction of the central bank’s monetary policy, see the U.S. Investors are waiting for the latest policy decision of the Federal Reserve.
Gold futures were down 0.44% at $ 7,770.95. The dollar, which normally moves against gold, rose on Wednesday.
The central bank will hand over its decision later in the day. Investors will also watch US President Joe Biden’s speech at a joint sitting of Congress on the same day for clues to further stimulus measures.
The Convention Board (CB) Consumer Confidence Index also rose to a 14-month high of 121.7 in April. COVID-19 vaccine rates and additional fund stimulus measures, allowing more business to reopen, contributed to a strong economic recovery. Rosier’s economic outlook saw investors move away from the haven yellow metal.
Leading the COVID-19, U.S. Johns Hopkins University data shows that it will help India deal with COVID-19 cases registered in India, which topped the list as of April 28 with 17.6 million cases.
Among other precious metals, silver fell 0.9% and platinum 1%, while palladium hit a high of $ 2,941 on Monday.