The gold price rose back into positive territory after falling earlier. The Federal Reserve expects inflation to ease in 2022 and the central bank is on track to start tapering assets soon.
The gold contracts rose 0.16% to 1,799.01 per ounce
Silver was flat at $24.31 an ounce.
Platinum rose 0.1% to 1,042 per ounce.
Palladium increased by 0.7% to 1,964 an ounce.
However, the Fed wants to make sure that they do not lose control of inflation. The plan is to return to normal in the second half of 2022.
Investors are still awaiting a policy decision from The Bank of Japan and the European Central Bank (ECB), which are due on Thursday.
Although no central bank is expected to change its policy, market indicators point to higher inflation than the ECB estimates.
In addition, speculators have reduced their net long positions in gold. This was previously shown by data from the U.S. Commodity Futures Trading Commission.
The Spot Market is Open
Monday, October 25, 2021