Gold Rises Looking Forward To Tomorrow By Investing.com

Written by Gina Lee

Investing.com – It was down Tuesday morning in Asian trading. However, investors took a risk averse stance, ahead of the US Federal Reserve’s policy decision and the ongoing debt crisis of Chinese group China Evergrande.

Also, it was down 0.08% to $ 1,762.35 at 12:14 am ET (4:14 GMT). However, the yellow metal reversed some losses from Monday, when it hit its lowest level in more than a month.

China’s Evergrande debt crisis continues on investor radar with an interest payment of $ 83.5 million for the March 2022 bond due Thursday and a second interest payment of $ 47.5 million dollars for the March 2024 bond due shortly after September 29.

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Update 3:30 p.m. Riyadh time

US construction data was released moments ago and saw an increase to 1.728 million new permits, when it was expected to hit 1.6 million building permits .

It registered an increase of 3.9%, and this is progress as the last follow-up of the percentage of homes started under construction came with a decrease of -7%.

The number of constructions has reached 1.615 million and is expected to reach 1.555 million.

Prices are at 3.30 p.m. Riyadh time

And it is now registered at 1771.81, an increase of 0.43%, while it is registered at 1773.05, with an increase of 0.52%.

And it recorded 22,565, an increase of 1.63%. As for the record of 93.10, down 0.18%.

Update 5:00 p.m. Riyadh time

The price of gold reached 1,772.62, an increase of 0.48%.

Tomorrow, gold awaits the announcement by the US Federal Reserve of its decision to reduce asset purchases and raise interest rates. Gold has entered a sideways trend affected by the strength of US data and of the US dollar.

Update 6:30 p.m. Riyadh time

Gold futures rose 1.05% to $ 1,782.45 an ounce.

Spot gold contracts are at $ 1,780.99 an ounce