On Wednesday, gold prices held firm near the vital USD 1,800/ounce psychological level. It received support from a drop in US Treasury yields, as investors awaited minutes from the Federal
Dollar inflation also influences gold price boost. Investors wait for the U.S. federal reserve’s latest policy meeting release. Gold futures increased by 0.8% and reached $1,797.65 by GMT 3:34 AM.
Strong economic recovery in the U.S. and global oil pick-up looks hopeful for investors, raising their expectations. However, according to energy analyst Vandana Hari, these expectations might be overly optimistic.
OPEC’s delayed decision on the oil output level rose prices after OPEC+ internal strife delayed production levels. New York Oil maintained most of its overnight gains. Disagreements within the Organization