Categories:
Base Metals
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General Market Commentary
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Precious Metals
Topics:
General Base Metals
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General Market Commentary
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General Precious Metals
Precious metals recover lost ground as traders count down to Fed meeting
Precious metals recover lost ground as traders count down to Fed meeting
Cecilia Jamasmie
Precious metals, particularly gold and silver, were slightly up on Monday ahead of the US Federal Reserve monetary policy meeting this week, a decline in the value of the US dollar and a rise in US government bond yields.
Most investors expect the central bank to put off raising rates, which would keep gold as an attractive asset to buy.
Gold for immediate delivery surged 0.4% to $1,315.05 an ounce in early afternoon trading in London, after closing Friday at $1,310.35 its lowest price since Aug. 31. Silver rose 1.6% to $19.091 an ounce, while Platinum climbed 1.1% and palladium advanced 0.3%.