Gold futures rose Tuesday, keeping strong recent gains amid a lack of first-tier economic data.
February gold rose $2.20, or about 0.2%, to settle at $1,337.10 an ounce–the highest since Sept. 8.
Stocks continued to rise, limiting the upside for gold today. The Dow Jones Industrial Average jumped above 26,000 for the first time ever. Also, the dollar stabilized after a three-year low.
On Wednsday, the Federal Reserve releases its Beige Book. Traders will be looking for clues about whether the Fed plans to raise interest rates in the coming months.
Also tomorrow, the Bank of Canada makes its interest rate decision. A rate hike is expected.
The material has been provided by InstaForex Company – www.instaforex.com
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