The price of gold rose more than 1% due to investor expectations regarding the minutes of the January Federal Reserve meeting.
Spot gold reached $4,986.19 per ounce.
What is happening to the price of gold now?
The increase in the price of gold was facilitated by the fact that investors were awaiting the minutes of the January Fed meeting.
The price of gold has changed as follows:
the spot price of this metal increased to $4,986.19 per ounce;
US gold futures for April delivery rose 0.9% to $4,947.70 per ounce.
Note that yesterday the price of gold bars fell to $4,841.74 per ounce, this situation was facilitated by:
dollar strengthening;
that Asian markets were closed for Lunar New Year celebrations;
easing tension between the US and Iran.
Negotiations between representatives of Iran and the United States took place yesterday. They managed to reach some understanding, in particular regarding the guiding principles of the nuclear negotiations.
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