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Gold reaches a 1-week high

Category: Economy

Date: 2020-12-16T09:40:56+0000
Gold reaches a 1-week high

Shafaq News/ Gold prices rose to a one-week high on Wednesday, building on the previous session's rally on growing prospects of further U.S. stimulus, while investors awaited the Federal Reserve's policy decision.

Spot gold rose 0.1% to $1,854.51 per ounce by 5;37 GMT, after hitting its highest since Dec. 9 at $1,858.26.

U.S. gold futures rose 0.2% to $1,859.60.

Investors now await the Fed's final policy statement of the year, due at 19:00 GMT, where it is expected to keep interest rates pinned near zero.            

Autocatalyst metal platinum, which is largely used cars industry, climbed 0.5% to $1041.35, having hit a more than one-week high of $1,045 earlier in the session.

Silver rose 0.7% to $24.66 an ounce.

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