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Gold Rises on Weak Buck, Dovish Fed

Written by Staff Writer
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2438940578 f9d3aa0317 zGold prices edge up on tepid dollar -Reuters
"Gold prices rose for a third consecutive session on Tuesday as the dollar weakened on expectations that the U.S. Federal Reserve will maintain a dovish tone at its monetary policy meeting this week.

The dollar, which eased marginally against major currencies, traded close to a two-week low posted in the previous session. Traders currently expect there will be no U.S. rate hikes this year, and are even building in bets for a rate cut in 2020. Federal Reserve Chairman Jerome Powell will speak at a news conference on Wednesday....SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, said its holdings rose about 1.1 percent on Monday, its biggest one-day percentage gain since Jan. 18."