GOLD RISES AHEAD OF FED MEETING

gold-dollar

WASHINGTON (Alliance News) – Gold futures were higher Tuesday morning in the wake of President Donald Trump’s ban on certain Muslim nationals from entering the US.

Gold for April was up 10 dollars at USD1206 an ounce, while silver rose to USD17.43 an ounce.

The US Federal Open Market Committee 2-day meeting to determine the near term direction of monetary policy will start today.

The Standard & Poor’s Corelogic Case-Shiller home price index for November will be published at 9.00 am ET. The forecasters are looking for consensus of 0.7%, up from 0.6%.

The Institute for Supply Management – Chicago’s purchase managers index for January will be released at 9.45 am ET. The consensus is for 55.3, up from 54.6 last month.

The Conference Board’s consumer confidence index for January will be published at 10.00 am ET. The forecasters are expecting a consensus of 112.2, slightly down from 113.7 a month ago.

The Bank of Japan raised its economic growth forecasts on Tuesday, but kept its policy stance unchanged.

Copyright RTT News/dpa-AFX

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