Gold closes up 30 cents as investors keep an eye on Fed meeting minutes

Gold futures closed slightly higher on Tuesday (Nov. 22), supported by a weak dollar and a drop in Treasury yields. Investors are waiting for the U.S. Federal Reserve (Fed) meeting minutes for clues on the direction of interest rates.

  • Gold futures rose 30 cents, or 0.02%, to close at $1,739.90 per ounce.
  • Silver futures rose 17.7 cents, or 0.85%, to close at $21.049 per ounce.
  • Platinum futures rose $7.8, or 0.79%, to close at $995.7 per ounce.
  • Palladium futures rose $4.50, or 0.2%, to settle at $1,857.50 per ounce.

The dollar index was 0.57% lower against a basket of six major currencies at 107.2230, while the yield on 10-year U.S. Treasury bonds fell to 3.771%.

A weak dollar makes gold contracts priced in dollars cheaper and more attractive to investors holding other currencies. This is because gold is a non-interest-bearing asset.

Investors are waiting for the minutes of the Federal Reserve’s November meeting today (Nov. 23) for clues on the direction of interest rates.

The Spot Market is Open

Wednesday, November 23, 2022

Metals
Updated at
USD
Bid/Ask
Ounce
Change

Low/High
Gold
12.40
1,735.60
1,736.60
-4.30
-0.25%
1,733.00
1,743.70
Silver
12.40
20.97
21.07
-0.09
-0.45%
20.89
21.21
Platinum
12.40
989.00
999.00
-1.00
-0.10%
987.00
1,003.00
Palladium
12.30
1,807.00
1,957.00
+19.00
+1.06%
1,786.00
1,960.00
Rhodium
06.00
12,100.00
14,100.00
0.00
0.00%
12,100.00
14,100.00

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