Gold regains ground on dollar's retreat as markets await Fed rate decision
Bank of England cuts interest rates
Dollar slips from four-month high
Fed rate decision due at 2 p.m. EST (1900 GMT)
China's central bank still not buying gold for reserves
Recasts as of 1510 GMT
By Anjana Anil
Nov 7 (Reuters) -Gold prices rebounded from a three-week low on Thursday on the back of a weaker dollar and as investors awaited the U.S. Federal Reserve interest rate decision later in the day.
Spot gold XAU= was up 1.3% to $2,692.59 per ounce as of 10:10 a.m. EST (1510 GMT). U.S. gold futures GCv1 rose 0.9% to $2,700.10.
The dollar index .DXY surged to a four-month high after Republican former President Donald Trump's win in Tuesday's presidential election, but erased the gains on Thursday, falling around 0.7%. A stronger dollar makes bullion less attractive for overseas buyers.USD/
"The market is focused on the Fed decision today, perhaps also reflecting to some degree on the BoE's decision to cut rates by another 25 basis points," said Peter Grant, vice president and senior metals strategist at Zaner Metals.
The Bank of England cut interest rates on Thursday but said it saw the new government's first budget leading to higher inflation and economic growth.
The Fed's rate decision is due at 2 p.m. EST (1900 GMT). Markets widely expect the U.S. central bank to deliver a 25-basis-point reduction. Fed Chair Jerome Powell will hold a press conference about half an hour after the release of the policy statement.
The Fed embarked on its policy easing cycle with an unusually large half-percentage-point rate cut in September.
With Trump's impending return to power, "any future rate reductions could well be more difficult to achieve due to concerns that higher prices and stickier inflation force central banks to keep policy restrictive for longer than they would like," Michael Hewson, chief market analyst at CMC Markets, wrote in a note.
Gold is often valued as a hedge against inflation, but rising interest rates diminish its allure, as it is a non-yielding asset.
China's central bank refrained from purchasing gold for its reserves for a sixth consecutive month in October, according to official data.
Spot silver XAG= added 1.8% to $31.72 per ounce, platinum XPT= gained 0.2% to $988.85 and palladium XPD= shed 0.3% to $1,032.14.
Reporting by Anjana Anil in Bengaluru; Editing by Paul Simao
免责声明: XM Group仅提供在线交易平台的执行服务和访问权限，并允许个人查看和/或使用网站或网站所提供的内容，但无意进行任何更改或扩展，也不会更改或扩展其服务和访问权限。所有访问和使用权限，将受下列条款与条例约束：(i) 条款与条例；(ii) 风险提示；以及(iii) 完整免责声明。请注意，网站所提供的所有讯息，仅限一般资讯用途。此外，XM所有在线交易平台的内容并不构成，也不能被用于任何未经授权的金融市场交易邀约和/或邀请。金融市场交易对于您的投资资本含有重大风险。
所有在线交易平台所发布的资料，仅适用于教育/资讯类用途，不包含也不应被视为用于金融、投资税或交易相关咨询和建议，或是交易价格纪录，或是任何金融商品或非应邀途径的金融相关优惠的交易邀约或邀请。
本网站上由XM和第三方供应商所提供的所有内容，包括意见、新闻、研究、分析、价格、其他资讯和第三方网站链接，皆保持不变，并作为一般市场评论所提供，而非投资性建议。所有在线交易平台所发布的资料，仅适用于教育/资讯类用途，不包含也不应被视为适用于金融、投资税或交易相关咨询和建议，或是交易价格纪录，或是任何金融商品或非应邀途径的金融相关优惠的交易邀约或邀请。请确保您已阅读并完全理解，XM非独立投资研究提示和风险提示相关资讯，更多详情请点击 这里。
