In a report, the chief of UN nuclear watchdog reiterates his call on Tehran to cooperate fully and unambiguously with the agency
Gold prices were steady on Tuesday morning, caught between lower bond yields and a stronger dollar, as investors watched for signs of how soon the US central bank could wind down pandemic support measures when it meets later in the day.
Spot gold was almost unchanged at $1,786.56 at 9.30 am UAE time. In the UAE, the 24K variant of the precious metal opened at Dh216.25 per gram on Tuesday morning. While 22K, 21K and 18K were trading at Dh203.25, Dh194.0 and Dh166.25 per gram, respectively.
The dollar firmed, making bullion more expensive for buyers holding other currencies, while US Treasury yields hovered near a one-week trough touched in the previous session.
Edward Moya, senior market analyst at Oanda, said it appears gold prices will remain stuck in a trading range until investors get a better idea of how high the US Federal Reserve expects interest rates to go over the next few years.
“While an accelerated taper is mostly priced in, traders should be prepared for any dovish surprises. Gold prices have not been a good inflation hedge over the past month and that is largely due to the strong dollar that has emerged from Fed hawkishness. Unless Fed rate hike expectations surge to three to four rate hikes in 2022, gold should start to grind higher,” said Moya.
"The market is largely waiting for the outcome of the Fed meeting," said Ilya Spivak, currency strategist at DailyFX.
He said the metal was stuck in a narrow range due to two conflicting factors – lower bond yields and a stronger dollar.
Second seed Andrey Rublev overcame China's Zhang Zhizhen in three sets 6-7 (4/7) 6-2 6-4
Medvedev blew a two-set lead in both the 2022 and 2024 Australian Open finals
Tax groups and qualifying groups represent valuable tools for entities aiming to enhance their tax efficiency
Before playing his first match in Dubai, Korda flew high into the Emirate's sky to enjoy the breathtaking view of the city
Doctors at Delhi hospital successfully completes a surgery, takes out the foreign bodies from intestine