f
  •  
© Reuters.  © Reuters.

By Adam Claringbull

Investing.com – Gold was up on Wednesday morning in Asia ahead of the U.S. Federal Reserve's policy decision, due to be handed down later in the day. The focus will be on whether the Fed continues to maintain accommodative approach to inflation and keep interest rates lower for longer, both policies announced at August's Jackson Hole symposium by Fed Chairman Jerome Powell.

Gold futures edged up 0.11% to $1,968.30 by 12:35 AM ET (5:35 AM GMT) in Asian morning trade.

The dollar rose during the previous session after a recent weak spell, buoyed by expectations that today’s Federal Reserve meeting will pursue a policy of keeping interest rates low and controlling inflation.The greenback's fall on Wednesday helped gold pull back some of its lost territory.

Other actors influencing the precious metal’s price include the U.S. Democrats pushing to delay the U.S. Congress’ October recess in order to establish a new COVID-19 aid bill and U.S. President Donald Trump declaring that a COVID-19 vaccine would be ready in a few weeks, though his pronouncement was received with a certain amount of skepticism.

A WTO ruling that the U.S. breached international trade regulations when applying tariffs to over $234 billion in Chinese goods has raised the possibility of increased U.S.-China trade tensions, bringing further hesitation into the global marketplace. The looming U.S. presidential election and its uncertain outcome are also matters of concern to investors.

Brent oil futures has climbed back to over $40 per barrel after a much larger U.S. crude inventory draw than forecast, this was after it earlier fell to its lowest price since June. However, both global oversupply and low global demand are still dogging the market, giving gold a slight boost.

COVID-19’s ongoing global spread is creating the usual currents of uncertainty in the market, though recent news on vaccine progression has slightly stilled the waters.

Gold, a safe-haven popular during times of social and economic uncertainty, has seen substantial price increases since the onset of the COVID-19 pandemic with prices topping out above $2,072 in August.


Other relevant articles 
[2020-09-16 05:15:11] Asian Stocks Mixed Ahead of Central Bank Policy Decisions
[2020-09-16 04:20:07] Dollar Down Ahead of Fed Meeting
[2020-09-16 00:30:07] Day Ahead: 3 Things to Watch for September 16
[2020-09-15 22:35:04] Day Ahead: 3 Things to Watch for September 16
[2020-09-15 22:15:05] Dow Ends Flat as Financials Wobble Ahead of Fed; Tech Advances
[2020-09-15 22:15:05] Dow Ends Flat as Financials Wobble Ahead of Fed; Tech Advances
[2020-09-15 21:15:11] Gold Tripped up by WTO China Ruling That Becomes a Boon for...
[2020-09-15 20:00:06] Goldman names Kim Posnett co-head of investment banking services:...
[2020-09-15 19:25:03] A $79 Billion Gold ETF Halts Record Run as Haven Demand Abates
[2020-09-15 18:00:07] Apple ends Barclays credit-card partnership ahead of new devices:...
[2020-09-15 16:45:04] Goldman names new co-heads of EMEA investment banking division:...
[2020-09-15 15:30:06] What Can The Fed Do For Gold This Time?
[2020-09-15 12:45:06] Futures advance ahead of two-day Fed meet
[2020-09-15 11:10:03] Busy Week Ahead: How Are FX Traders Positioned?
[2020-09-15 10:25:02] SoftBank paused share buybacks in August ahead of asset sale...
[2020-09-15 08:40:04] European Stocks Mixed Ahead of Central Bank Meetings
[2020-09-15 06:40:03] Gold On The Rise As Dollar Heads Down
[2020-09-15 05:30:06] Asian Stocks Edge Up Ahead of Fed Meeting, But Market Volatility Remains
[2020-09-15 04:35:26] Oil Edges Up Ahead of OPEC+ Meeting, But Oversupply Fears Cap...
[2020-09-14 22:15:26] Day Ahead: 3 Things to Watch for September 15
[2020-09-14 21:05:25] Pound Off Highs as PM Johnson Seeks Support for Brexit Plan Ahead of Vote
[2020-09-14 20:50:29] Gold Gets Early Ride up Ahead of Fed as Dollar Slides
[2020-09-14 16:50:24] Commodities Week Ahead: Gold On Fed Watch; Oil Tracks Sally,...
[2020-09-14 10:50:22] EU, China sign food protection deal ahead of challenging summit
[2020-09-14 09:15:25] Goldman Sachs says pound levels now attractive
[2020-09-14 06:30:22] Gold Up Over Strong Dollar, COVID-19 Vaccine Hopes
[2020-09-13 23:10:35] Ageing and empty: Japan next premier’s hometown highlights challenges ahead
[2020-09-13 15:35:19] Week Ahead: Stock Volatility To Rise; Dollar Could Bottom As Gold...
[2020-09-13 11:50:19] Energy & Precious Metals - Weekly Review and Calendar Ahead
[2020-09-13 09:40:19] South Korea eases social distancing for two weeks ahead of major holiday
[2020-09-12 12:55:15] Wall Street Week Ahead: Fed meeting in focus as stocks wobble and...
[2020-09-11 22:20:12] Gold Up on Week but Snaps 3-Day “Mini Rally”
[2020-09-11 17:20:14] Gold’s Momentum In Question Amid Technical Chart Uncertainty
[2020-09-11 06:15:11] Gold Falls Along With Stocks and the Dollar
[2020-09-11 05:30:11] Tokyo 2020 director leaves ahead of rearranged Games
[2020-09-11 00:35:11] Day Ahead: 3 Things to Watch for September 11
[2020-09-10 22:15:08] Day Ahead: 3 Things to Watch for September 11
[2020-09-10 21:05:08] Gold Notches 3rd Day of Gains Amid Dollar Swings
[2020-09-10 19:10:08] Twitter expands misinformation rules ahead of U.S. election
[2020-09-10 17:30:08] Penn Gets Street-High Target Ahead of NFL Kickoff, Barstool Launch
[2020-09-10 16:15:08] Restoration Hardware Up as Brand Turns Luxe, Strength Ahead
[2020-09-10 14:25:07] Opening Bell: U.S. Futures Retreat; Dollar, Yields Fall; Gold Flat
[2020-09-10 12:30:07] Goldman Sachs sees double-digit returns in emerging market junk
[2020-09-10 10:10:07] European Stocks Lower Ahead of ECB Meeting
[2020-09-10 09:10:08] Dollar Weakens, Euro Gains Ahead of ECB Meeting
[2020-09-10 06:40:06] Ex-Goldman banker seeks review of 1MDB charges in Malaysia
[2020-09-10 06:40:06] Gold Steady After Overnight Boost as Dollar Falls
[2020-09-10 00:30:11] Day Ahead: 3 Things to Watch for September 10
[2020-09-09 22:40:08] Gold Extends Gains In Slow, Deliberate Rise
[2020-09-09 22:25:08] Day Ahead: 3 Things to Watch for September 10
[2020-09-09 21:55:08] Maserati rolls out new super sports car to drive turnaround ahead...
[2020-09-09 18:15:07] Palantir begins Wall Street charm offensive ahead of public...
[2020-09-09 17:10:07] Ugandan move to regulate online activity is tool to curb dissent...
[2020-09-09 06:45:06] Gold Steadies After Overnight Drop and Bounce
[2020-09-09 00:35:07] Day Ahead: 3 Things to Watch for September 9
[2020-09-08 22:20:04] Day Ahead: 3 Things to Watch for September 9
[2020-09-08 21:40:04] Gold Closes up 1st Time in 5 Days Despite Dollar Power
[2020-09-08 21:30:05] Gold Closes up 1st Time in 5 Days Despite Dollar Power
[2020-09-08 20:50:03] Airbus jet deliveries slip in August, stays ahead of Boeing
[2020-09-08 16:30:04] Foot Locker Up on Goldman Sachs Buy Rating
[2020-09-08 15:25:03] Dollar’s Waning Influence Evident as Gold Breaks Up With EM Debt
[2020-09-08 14:10:03] Opening Bell: U.S. Futures Slump; Dollar Gains, Gold Falls, Oil Slips
[2020-09-08 07:15:07] U.S. shale producers race for federal permits ahead of...
[2020-09-08 06:40:04] Gold Down on the Back of Stronger Dollar
[2020-09-07 20:00:27] 2 Healthcare ETFs That Could Be A Remedy For The Choppy Months Ahead
[2020-09-07 13:15:22] Goldman Says Allure of Brexit Deal Hard to Resist for Johnson
[2020-09-07 08:05:21] Gold Up Over Weak U.S. Jobs Data, Mixed Chinese Trade Data
[2020-09-06 16:55:18] Buffett dumps Wells Fargo amplifying bull case for gold and Bitcoin
[2020-09-06 15:45:18] Week Ahead: Stock Rally To Endure But Beware 3 Red Flags, Sector...
[2020-09-06 13:05:18] Energy & Precious Metals - Weekly Review and Calendar Ahead
[2020-09-05 09:50:14] Goldman Sachs joins syndicate for Ant IPO of up to $30 billion, say sources
[2020-09-04 21:20:11] Gold Down 2% on Week; No End in Sight to Volatility 
[2020-09-04 21:20:11] Gold Down 2% on Week; No End in Sight to Volatility 
[2020-09-04 20:20:11] Goldman Sachs, Morgan Stanley lower stress capital buffers after...
[2020-09-04 14:25:10] Wall Street Week Ahead: U.S. stock market surge may run into...
[2020-09-04 13:30:11] Dow Futures Up 83 Pts Ahead of Payrolls; Tech Stocks Weak
[2020-09-04 13:25:10] Dow Futures Up 83 Pts Ahead of Payrolls; Tech Stocks Weak
[2020-09-04 08:55:10] Dollar Edges Higher Ahead of U.S. Employment Release
[2020-09-04 07:10:11] Malaysia drops criminal charges against Goldman Sachs over 1MDB...
[2020-09-04 06:15:11] Gold Up as Stock Markets Tumble
[2020-09-04 05:20:10] Dollar Steady in Asia Ahead of Jobs Report
[2020-09-04 04:35:29] Goldman’s 1MDB Charges Dropped by Malaysia After Settlement
[2020-09-04 00:35:11] Day Ahead: 3 Things to Watch for September 4
[2020-09-03 22:20:08] Day Ahead: 3 Things to Watch for September 4
[2020-09-03 19:00:10] Ahead of U.S. August jobs data, high frequency numbers still show...
[2020-09-03 17:20:06] Bank of England says regulators must keep ahead of stablecoins
[2020-09-03 13:10:06] Stock Futures Lower, Consolidating Ahead of Claims Data
[2020-09-03 12:25:06] Facebook partners with two more companies ahead of FTC hearing on...
[2020-09-03 09:35:06] European shares open higher ahead of service-sector data
[2020-09-03 06:45:06] Gold Holds Steady as Dollar Stalls and Economic Worries Remain
[2020-09-02 22:05:08] Day Ahead: 3 Things to Watch for September 3
[2020-09-02 21:30:09] Gold Tumbles as Dollar Gets A Rally That Makes Little Sense 
[2020-09-02 21:25:08] Gold Tumbles as Dollar Gets Another Rally That Makes Little...
[2020-09-02 12:50:12] Tech stocks boost futures ahead of private payrolls data
[2020-09-02 06:35:07] Gold Down as Rosy Economic Data Supports Dollar
[2020-09-02 06:30:07] Australia records worst economic slump as pandemic ends golden...
[2020-09-02 00:35:07] Day Ahead: 3 Things to Watch for September 2
[2020-09-02 00:10:07] Euro Rejects 1.20, More Losses Ahead?
[2020-09-01 22:20:05] Day Ahead: 3 Things to Watch for September 2
[2020-09-01 20:25:04] Gold Hits $2,000 Then Backtracks As Gyration Continues