Gold prices further jumped this morning during the Asian hours. Presently, gold trades at $2047.73, which is a very minor retreat of $0.82 or 0.04% from the previous close of 2048.55. The daily trading range is from $2034.98 to 2058.98, while the trading volume is 214.842K. The precious metal managed to preserve its ground and after reaching 19-month peak during the previous session.
The USD which normally moves inversely to gold, edged down on Wednesday but is still close to the more than one-and-a-half-year peak.
The Fed is expected to raise its interest rates when it hands down its policy decision during the following week. In the meantime, palladium added 3.3% to $3,284.67 per ounce, rising 38%.Silver also secured 1% to $26.66 per ounce, after hitting a near nine-month high.