© Archyde.com. Gold bars in a vault in Munich (Archyde.com Photo).
(Archyde.com) – It recorded a slight increase on Wednesday, as investors await the minutes of the (US Central Bank) monetary policy meeting for the month of November, which may provide indications regarding the path of raising interest rates.
Prices rose 0.2 percent to $1,744.01 an ounce by 1252 GMT, and US gold futures rose 0.2 percent to $1,743.90.
Minutes of the Federal Reserve Monetary Policy Committee meeting are expected to be announced at 1900 GMT. Dealers expect the bank to raise interest rates by 50 basis points at its December meeting, bringing interest rates to a peak in June.
The Federal Reserve has raised interest rates by a total of 375 basis points several times this year from near zero to a range of 3.75 to 4 percent as part of the fight once morest soaring inflation, the fastest rate hike since the 1980s.
Gold also benefited from a 0.8 percent decline, making the precious metal more attractive to holders of other currencies, with returns also declining on Wednesday.
As for other precious metals, it rose in spot transactions by 1 percent to $ 21.29 an ounce, while platinum fell 0.3 percent to $ 987.52 an ounce, and rose 0.9 percent to $ 1877.25 an ounce.
(Prepared by Amira Zahran for the Arabic Bulletin – Edited by Hassan Ammar)
