Stephen Innes presents Stephen Innes

Gold Rises on Feeble Dollar, Investors Look Forward to Federal Meeting

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On Monday, Gold experienced a rise in prices leveraged by a frailer dollar and expectations that the U.S. Federal Reserve will consider adopting a dovish stance at its two-day monetary policy meeting later this week.Spot gold rose by 0.4% at $1,949.92 per ounce by 0309 GMT, piling on to the previous week’s 0.2% gain.

U.S. gold futures went up by 0.6% to $1,958.60.“The gold market is leaning towards the Fed’s (policy),” expressed Stephen Innes, chief market strategist at AxiCorp.

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