Gold was up on Wednesday morning in Asia, remaining close to the key psychological $1,800 mark as investors await the U.S. Federal Reserve’s latest policy decision.
Oil was up Tuesday morning in Asia, with prices steadying from Monday’s fall. Investors are hoping that tight supply and rising vaccination rates will offset the impact of rising global COVID-19 cases on fuel demand.
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Gold prices edged lower on Friday, heading for their first weekly decline in five, as a stronger dollar made bullion more expensive for holder of other currencies and offset support from lower U.S. bond yields and weak economic data.
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Gold was down on Monday morning in Asia. However, lower U.S. Treasury yields in addition to concerns over the rising number of COVID-19 cases globally and its impact on the global economic recovery capped losses for the yellow metal.
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Gold was down on Friday morning in Asia but was headed for a fourth consecutive weekly gain. The yellow metal was boosted by U.S. Federal Reserve Chairman Jerome Powell’s insistence that any inflation will be transitory and that the central bank would continue to support the economy.
