Gold prices moved higher on Tuesday, lifting the most active gold futures contract to a positive close for a fourth straight session, as the demand for the safe-haven asset rose amid a weaker dollar and lower bond yield.
The dollar hit a near 2-week low as rising optimism about economic growth dimmed the demand for the safe-haven currency. The dollar index dropped to 92.34, losing about 0.28% from previous close.
Gold futures for June ended higher by $14.20 or about 0.8% at $1,743.00 an ounce, the highest settlement in over five weeks.
Silver futures for May ended up $0.447 at $25.227 an ounce, while Copper futures for May settled at $4.1165 per pound, down $0.0210 from previous close.
Investors are looking ahead to the minutes of the Federal Reserve’s latest policy meeting.
The Fed publishes minutes from its March meeting on Wednesday, with investors looking for insight as to what it will take for policymakers to begin tightening sooner than expected.
The International Monetary Fund (IMF) raised its global growth projections for this year and next, citing huge fiscal stimulus in some big economies and a vaccine-driven recovery in the future.
The world economy is set to grow 6% this year and 4.4% next year, the global lender said in its latest World Economic Outlook report, released Tuesday.
In a January update to the WEO, the IMF had projected growth of 5.5% and 4.2%, respectively. The latest projections are also stronger than those in the October WEO report.
The material has been provided by InstaForex Company – www.instaforex.com
🚀If you want to get a Forex Robot Coded as per your trading strategy but are unable to do so because of the high price for the Robot then you can take advantage of the CROWD FUNDING campaigns feature. ✔ These are some crowd funding campaigns for Forex Robots, which when completed can provide the very same Forex Robot to the participants at an average price of $5-$10 per participant. ✔ You either participate in one of the already listed campaigns or send us your Forex strategy : Submit Crowd Funding Campaign , for which you would like the Forex Robot to be coded. A Crowd Funding Campaign would then be started for the same . ✔ All you have to do later on is to share the campaign online with your friends to encourage more people to participate in the campaign.
As a result, each participant can get that Forex robot for just a campaign contribution of $5 (which is the minimum). Participants can back the campaign by anything above or equal to $5 to reach the funding goal to close the campaign.