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Gold shines as the dollar falls ahead of the release of the minutes of the Fed meeting

Gold prices rose Wednesday, supported by a slight decline in the dollar, as investors eagerly awaited the release of the minutes of the Federal Reserve’s monetary policy meeting for the month of September, as well as inflation data, for guidance. on the path to raising interest rates.

And spot gold prices rose 0.2% to $ 1668.40 an ounce by 0908 GMT after falling for five consecutive sessions.

and decline US gold futures contracts 0.6% to $ 1,675.50, according to Reuters.

The dollar fell 0.1% against other currencies, making gold less expensive for buyers of other currencies.

The latest minutes of the Federal Reserve meetings are scheduled for 1800 GMT on Wednesday, followed by Thursday’s US CPI data, which is expected to continue to rise.

The US central bank has significantly raised interest rates since March to tame hyperinflation, which has also negatively impacted the attractiveness of the precious metal, as high interest rates have increased the opportunity cost of holding non-returnable bullion.

As for the other precious metals, spot silver prices fell 0.1% to $ 19.18 an ounce, platinum rose 0.7% to $ 891.64, and palladium rose 0.1% to $ 891.64. 0.6% at $ 2,153.55.

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