Gold rebounds in Asia as BOJ and Fed reviews awaited

September 20, 2016

On Tuesday, gold prices rebounded in Asia as market participants looked ahead to major bank policy reviews in Japan and American on Wednesday.

In New York, December delivery gold futures rose 0.11%, trading at $1,319.15 per troy ounce.

Meanwhile, December delivery silver futures gained 0.04%, being worth $19.297 per troy ounce, while copper futures sank 0.19%, reaching $2.151 a pound.

Overnight, gold prices held on to overnight revenues during North America's trading session, as the evergreen buck slumped amid hopes of no rate change from the Federal Reserve this week.

The Fed Reserve isn’t supposed to take action on interest rates at the conclusion of its two-day policy gathering on Wednesday. Additionally, Fed Chair Janet Yellen is expected to hold what will be a closely-watched press conference just 30 minutes after the issue of the US major bank’s statement, as traders look for any change in tone regarding the US economy or future rate lifts. 

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