Spot gold climbed 0.4 per cent to $1,872.20 per ounce by 0745 GMT, having hit a more than one-week high of $1,873.76 earlier in the session. US gold futures were up 0.9 per cent at $1,875.50. The Fed more explicitly promised to continue its bond-buying programme until there is “substantial further progress” in restoring full employment and hitting its 2 per cent inflation target. Investors now await the Bank of England’s policy decision, due at 1200 GMT, where it is expected to refrain from further stimulus. Platinum gained 1.4 per cent to $1,049.17 and palladium was up 0.7 per cent at $2,343.13.

Source: Dhaka Tribune December 17, 2020 15:56 UTC