Gold futures are hovering slightly above the important $1,300 threshold to kick off the trading week. Ahead of the Federal Reserve’s policy meeting, the yellow metal is rising on a weaker US dollar, global uncertainty, and disappointing economic data.
April gold futures edged up $1.20, or 0.09%, to $1,304.10 per ounce at 16:30 GMT on Monday. Last week, gold posted a modest gain of 0.75%, bringing its
Silver, the sister commodity to gold, is starting the trading week in the green. May silver futures rose $0.03, or 0.2%, to $15.355 an ounce. The white metal also advanced last week, climbing 0.2%, but it is still down nearly 2% so far this year.
On Wednesday, the
A weaker buck helped gold prices as the US dollar slipped 0.03% to 96.49. A lower greenback is good for
Precious metals are taking their cues on global uncertainties. Any potential
On the data front, US manufacturing output declined for the second consecutive month in February, the number of Americans filing applications for jobless benefits rose more than expected, and new home sales slipped more than expected.
In other metal markets, May copper futures were flat at 2.90 per pound. May platinum futures rose $1.50, or 0.18%, to $833.30 an ounce. May palladium futures soared $16.00, or 1.05%, to $1,534.50 per ounce.
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