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Gold Gains on Dovish Fed Expectation; Palladium Record


Tuesday, 19 March 2019 15:12 WIB

GOLDEMAS


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Gold rose for a third day amid expectations of dovish signals for monetary policy from the Federal Reserve as it meets this week.

Spot gold +0.1% to $1,305.49/oz at 7:42am in London after +0.6% in previous 2 days. Palladium as much as +0.6% to record $1,588.77/oz. Bloomberg Dollar Spot Index steady after -0.2% on Monday.

The Fed is expected to hold interest rates steady, announce plans for the end of the asset roll-off from its balance sheet, and lower projections for the number of interest-rate hikes this year. The decision is due Wednesday.

Meanwhile, palladium extended this year’s gain to reach an all-time high as automakers grapple with an ongoing shortage of the precious metal used in catalytic converters.

Source : Bloomberg


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