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Tuesday August 09, 2022

Gold surges

By REUTERS
March 22, 2018

Bengaluru : Gold prices inched up on Wednesday as the dollar crept lower, while investors awaited the conclusion of U.S. Federal Reserve´s two-day meet for clues on faster monetary tightening, expecting the first rate increase of the year later in the day.

Spot gold was up 0.1 percent at $1,311.72 per ounce, as of 0118 GMT.

Prices hit a nearly three-week low in the previous session at $1,306.91. U.S. gold futures for April delivery was flat at $1,311.60 per ounce.

The dollar index against a basket of currencies was down 0.1 percent at 90.305 after climbing to 90.445 on Tuesday, its highest in almost three weeks.

U.S. lawmakers neared agreement on Tuesday on a massive government spending bill that Congress hopes to pass by Friday, as congressional leaders worked to narrow their differences on thorny issues such as President Donald Trump´s border wall.

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