ANL 11.20 Decreased By ▼ -0.25 (-2.18%)
ASC 9.71 Decreased By ▼ -0.09 (-0.92%)
ASL 12.00 Increased By ▲ 0.65 (5.73%)
AVN 80.00 Increased By ▲ 1.70 (2.17%)
BOP 5.94 Increased By ▲ 0.11 (1.89%)
CNERGY 5.70 Increased By ▲ 0.16 (2.89%)
FFL 6.85 Decreased By ▼ -0.12 (-1.72%)
FNEL 6.26 Increased By ▲ 0.11 (1.79%)
GGGL 12.10 Decreased By ▼ -0.05 (-0.41%)
GGL 16.89 Increased By ▲ 0.07 (0.42%)
GTECH 9.45 Decreased By ▼ -0.20 (-2.07%)
HUMNL 7.00 Increased By ▲ 0.35 (5.26%)
KEL 2.68 Increased By ▲ 0.12 (4.69%)
KOSM 3.09 Increased By ▲ 0.09 (3%)
MLCF 27.50 Increased By ▲ 0.25 (0.92%)
PACE 3.09 Decreased By ▼ -0.01 (-0.32%)
PIBTL 5.99 Decreased By ▼ -0.12 (-1.96%)
PRL 17.58 Decreased By ▼ -0.30 (-1.68%)
PTC 7.62 Decreased By ▼ -0.53 (-6.5%)
SILK 1.29 Decreased By ▼ -0.14 (-9.79%)
SNGP 27.40 Increased By ▲ 1.31 (5.02%)
TELE 11.64 Decreased By ▼ -0.12 (-1.02%)
TPL 9.90 Increased By ▲ 0.01 (0.1%)
TPLP 18.62 Increased By ▲ 0.94 (5.32%)
TREET 29.70 Decreased By ▼ -0.40 (-1.33%)
TRG 81.11 Decreased By ▼ -0.57 (-0.7%)
UNITY 22.48 Decreased By ▼ -0.79 (-3.39%)
WAVES 13.45 Decreased By ▼ -0.05 (-0.37%)
WTL 1.56 Decreased By ▼ -0.04 (-2.5%)
YOUW 5.09 Decreased By ▼ -0.01 (-0.2%)
BR100 4,262 Increased By 29.5 (0.7%)
BR30 15,499 Increased By 12.7 (0.08%)
KSE100 42,861 Increased By 319.7 (0.75%)
KSE30 16,276 Increased By 133.1 (0.82%)
Markets

Gold holds below 2-week high as investors await Fed decision

  • Palladium jumped about 5% and scaled to a one-year high of $2,520.31 in the preceding session.
17 Mar, 2021

Gold prices steadied below last session's two-week high on Wednesday as the dollar stood firm, with investors eyeing the outcome of the US Federal Reserve's two-day meeting for its outlook on economy.

FUNDAMENTALS

Spot gold was little changed at $1,730.82 per ounce by 0127 GMT, having risen to $1,740.90 in the last session, its highest since March 1.

US gold futures fell about 0.1% to $1,729.60 per ounce.

A spate of volatility in money markets has stoked speculation that the US central bank may be forced into a technical adjustment to the levers controlling its benchmark interest rate to ensure that it does not fall too low, but few expect it to act on the matter at this week's meeting.

Asian stocks were set to open mostly lower following a sell-off in US stocks.

US retail sales fell more than expected in February amid cold weather across the country, but a rebound is likely as the government disburses another round of pandemic relief money.

Nornickel, the world's largest palladium producer and a leading nickel producer, expects its 2021 nickel, copper, platinum and palladium output to fall 15%-20% short of original outlook due to waterlogging at two Siberian mines.

Palladium jumped about 5% and scaled to a one-year high of $2,520.31 in the preceding session.

One of the world's biggest gold refiners said on Tuesday it had developed a way to quickly confirm where gold had been mined, potentially stopping illegal gold from entering supply chains.

Silver fell 0.7% to $25.77, platinum slid 0.5% to $1,206 and alladium slipped 0.2% to $2,494.05.

Comments

Comments are closed.