Gold price at $1800 mark ahead of Fed meeting

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Ahead of the Fed meeting in Jackson Hole, the gold price shows its volatile side. With Fed officials hinting at asset cuts, this could happen sooner than expected.

At 22:08 Asia time (GMT+7), gold futures rose 0.34% to $1,798.95 an ounce, bringing gold close to the $1800 mark again after standing at $1784.00 as recently as midday.

In addition, the global coronavirus pandemic continues to overshadow the economy and has increased investor skepticism about the Fed’s assessment that it may start tapering sooner than expected.

Meanwhile, the Bank of Korea (BOK) announced its policy decision to raise interest rates in August. The 25-point hike to 0.75% from 0.5% previously makes it the first country in Asia to raise rates since the coronavirus outbreak.

Other Metals:

Silver down slightly at $23.68/oz.

Platinum fell 1%.

Palladium fell 1.5%.

The Spot Market is Open

Friday.27 Aug-2021

Metals

Updated at
USD

Bid/Ask
Ounce

Change


Low/High
Gold
06.00
1,793.20
1,794.20
+0.60
0.03%
1,792.50
1,794.50
Silver
06.00
23.56
23.66
+0.01
0.04%
23.54
23.67
Platinum
06.00
974.00
984.00
+1.00
0.10%
973.00
984.00
Palladium
06.00
2,332.00
2,482.00
+6.00
0.26%
2,326.00
2,488.00
Rhodium
05.00
16,300.00
18,300.00
0.00
0.00%
16,300.00
18,300.00
Energy

Updated at


Price


Change


%Change
Crude Oil
06.00

67.88

+0.46

0.68%

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