The dovish Fed pushed the price for the yellow metal up.
Gold rallies to 3-week maximum
On Tuesday, gold reached a three-week maximum, while the greenback demonstrated little movement because trading volumes were believed to remain suppressed during the holiday season.
Comex gold futures rallied 0.28% being worth $1,282.30 a troy ounce, which is off its intraday maximum of $1,283.50 - its highest value since December 1.
The US currency was nearly intact, with Wall Street getting ready to resume trading after the Christmas holiday. The vast majority of European stock markets were unavailable on Tuesday due to Boxing Day and approaching New Year. In general, trading was supposed to stay thin.
Assessing the US dollar’s value versus a basket of six crucial currencies, the US dollar index rallied 0.14% being worth 92.97.
Aside from that, silver edged up 0.22% hitting $16.48 a troy ounce. As for platinum, this commodity inched down 0.13% reaching $924.50 a troy ounce. Copper surged 0.66% trading at $3.260 a pound, while palladium gained 0.63% being worth $1,036.00 a troy ounce.
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