AGL 7.03 Increased By ▲ 0.41 (6.19%)
ANL 10.75 Increased By ▲ 0.34 (3.27%)
AVN 77.30 Increased By ▲ 0.40 (0.52%)
BOP 5.49 Increased By ▲ 0.05 (0.92%)
CNERGY 5.26 Increased By ▲ 0.01 (0.19%)
EFERT 88.50 Decreased By ▼ -0.32 (-0.36%)
EPCL 74.90 Decreased By ▼ -1.10 (-1.45%)
FCCL 13.65 Decreased By ▼ -0.10 (-0.73%)
FFL 6.62 Increased By ▲ 0.02 (0.3%)
FLYNG 7.19 Increased By ▲ 0.07 (0.98%)
GGGL 10.90 Decreased By ▼ -0.06 (-0.55%)
GGL 16.52 Increased By ▲ 0.04 (0.24%)
GTECH 8.69 Increased By ▲ 0.06 (0.7%)
HUMNL 6.94 Increased By ▲ 0.12 (1.76%)
KEL 2.86 No Change ▼ 0.00 (0%)
LOTCHEM 25.25 Increased By ▲ 0.22 (0.88%)
MLCF 25.79 Increased By ▲ 0.10 (0.39%)
OGDC 77.40 Increased By ▲ 0.36 (0.47%)
PAEL 15.62 No Change ▼ 0.00 (0%)
PIBTL 5.98 Increased By ▲ 0.03 (0.5%)
PRL 17.19 Decreased By ▼ -0.02 (-0.12%)
SILK 1.26 Increased By ▲ 0.03 (2.44%)
TELE 10.75 Increased By ▲ 0.02 (0.19%)
TPL 9.10 Increased By ▲ 0.07 (0.78%)
TPLP 19.85 Increased By ▲ 0.15 (0.76%)
TREET 28.78 Increased By ▲ 0.18 (0.63%)
TRG 77.01 Increased By ▲ 0.76 (1%)
UNITY 19.94 Increased By ▲ 0.06 (0.3%)
WAVES 12.65 Decreased By ▼ -0.15 (-1.17%)
WTL 1.38 Increased By ▲ 0.01 (0.73%)
BR100 4,072 Increased By 15.3 (0.38%)
BR30 14,890 Decreased By -16.8 (-0.11%)
KSE100 41,160 Increased By 57.2 (0.14%)
KSE30 15,660 Increased By 25.2 (0.16%)

SINGAPORE: Gold held steady in Asian trade on Tuesday as market awaits a US Federal Reserve meeting for cues on its monetary policy outlook, while a firmer dollar weighed on the metal’s appeal.

Spot gold was flat at $1,780.86 per ounce by 0724 GMT. US gold futures were little changed at $1,780.70 per ounce.

“We’re starting to see a bit of a perking up of the US dollar and bond yields as well,” DailyFX currency strategist Ilya Spivak said.

While no major policy changes are expected from the Fed’s two-day policy meeting ending on Wednesday, investors will pay close attention to Chairman Jerome Powell’s outlook on the economy.

“The most likely scenario that markets are looking for is a status quo result,” Spivak said, adding that, “the Fed is going to have a hard time sounding any more dovish than they already have been.”

The Bank of Japan maintained its massive stimulus on Tuesday and projected inflation missing its 2% target for years to come, while new restrictions to counter a surge in COVID-19 cases clouded prospects of a fragile economic recovery.

Comments

Comments are closed.