Gold prices rose on Tuesday, helped by a softer dollar, while market participants awaited more clarity on the U.S. Federal Reserve's rate hike stance. Spot gold was up 0.7% at $1,752.46 per ounce as of 0442 GMT. Bullion prices fell about 1% in the previous session after hawkish comments from U.S. Federal Reserve officials.
METALS STOCKS Gold prices ended lower on Monday as traders watched protests in China and eyed this week’s U.S. economic data for clues on the Federal Reserve’s next move on interest rates. Price action Gold for December delivery (GCZ22) declined by $13.
Gold prices slipped from a more than one-week high on Monday, as the dollar rose from session lows on hawkish comments from members of the U.S. Federal Reserve reiterating their fight against inflation. Fed Presidents James Bullard and John Williams stated that there was a long way to go to fight inflation, with Bullard stating that rates should be held high "throughout next year and into 2024." Jerome Powell is due to speak at a Brookings Institution event on Wednesday, on the outlook for the U.S. economy and the labour market.