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Publisher: Maaal International Media Company
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Gold prices fell on Monday as hopes for an early US rate cut this year receded, while focus turned to the Federal Reserve’s monetary policy meeting and the US non-farm payrolls data released this week to reveal more indicators on monetary policy.
According to Reuters, by 0334 GMT, gold prices in spot transactions fell 0.5% to $2,327.09 per ounce. US gold futures fell 0.4% to $2,338.30 an ounce.
The US central bank’s monetary policy committee meets on April 30 and May 1, and US non-farm payrolls data is released on Friday, both of which are important factors for markets this week. The US central bank is expected to keep interest rates in a range between 5.25 and 5.5% during this meeting.
As for other precious metals, silver rose in spot transactions by 0.3% to $27.24 per ounce. Platinum in spot transactions increased 0.5% to $19.95 an ounce. Palladium rose 0.1% to $954.94 an ounce.
© 2020 All rights reserved to Maaal Newspaper
Publisher: Maaal International Media Company
License: 465734