Gold hit a near two-week high on Tuesday as the dollar weakened and investors turned their focus to a U.S. Federal Reserve monetary policy meeting, seeking details of how it planned to hold down rates while aiming to boost inflation.
Spot gold was up 0.5% at $1,966.47 per ounce by 0512 GMT, after hitting $1,967.46 earlier, its highest level since Sept. 2. U.S. gold futures climbed 0.7% to $1,976.90.
“Gold looks firm mainly because of a weaker dollar and also U.S. Treasury yields are coming down a bit,” said Edward Meir, an analyst at ED&F Man Capital Markets.
Read more at Hindustan Times