The gloom of U.S. dollar trade and uncertainty over the Russian-Ukrainian geopolitical crisis have prompted the golden yellow metal to post gains again in the New York session.
The gain brought gold trading back closer to the eight -month high it reached on Tuesday by trading around $ 1,868 an ounce in today's Asian session.
The FOMC meeting minutes report released in the previous session unfortunately failed to stimulate the US dollar to rise after it only gave an indication of an interest rate hike next month, but no information on ‘how much’ they will raise it.
This caused investors to see it as less hawkish than expected to see a 50 basis point rate hike opportunity in March.
Meanwhile, the conflict in Eastern Europe returned to turmoil after the United States and NATO claimed that Russia had increased the number of its troops in nearby Ukraine.
This has caused investors to return to gold as a safe -haven asset amid this volatile sentiment.
