Gold up, investors eye Bostic comments, Fed minutes

Gold went up on Tuesday in Asia after trading flatly durig its early session. The greenback also edged up over expectations that the U.S. Federal Reserve will start asset tapering in November this year.

Gold futures jumped 0.16% to $1,758.55 by 11:36 PM ET (3:36 AM GMT). The dollar, typically moving inversely to gold, inched up on Tuesday and hovered near a one-year high hit in September. Rising energy prices and expectations that the central bank will soon begin asset tapering have helped boost the safe-haven currency.

Investors will also keep an eye out for comments from Atlanta Fed President Raphael Bostic as well as minutes from the Fed’s latest meeting, due on Wednesday.

Across the Atlantic, European Central Bank Chief Economist Philip Lane stated that the current levels of inflation in the eurozone will not trigger monetary policy actions as growth in services prices wages remain weak.

In other precious metals, silver and platinum went down 0.2% and 0.5%, respectively. Palladium fell 0.4% to $2,103.16.