Gold prices gain as Dollar slump ahead central bank policy decision

15.09.2020 - Korneychuk Evgeniya
Gold prices gain as Dollar slump ahead central bank policy decision

Gold prices rose earlier on Tuesday in Asia after a rapidly descending Dollar saw record lows in a fortnight as investors awaited policy decisions from central banks.

Gold futures rose by 0.61%, trading at a 12-day high of $1,975.75 per ounce at 12:30 AM ET (05:30 AM GMT).

Meanwhile, Asian markets fell as investors wait on the outcomes of a two-day U.S. Federal Reserve policy meeting on Thursday. In addition, the Bank of England and the Bank of Japan are also due to announce the results of their policy meetings on Thursday.

Gold, which is considered a safe-haven during times of social and economic uncertainty, has seen record price hikes since the onset of the COVID-19 pandemic with prices breaking above $2,072 in August.

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