Gold prices marginally rose on Thursday, continuing gains from the preceding session amid a subdued U.S. dollar after the Federal Reserve's published September policy meeting minutes showed concerns among central bankers regarding inflation prospects.
Spot gold traded up 0.2 percent at $1, 293.87 per ounce. It rose by 0.3 percent in the prior session. Meanwhile, U.S. gold futures for December delivery advanced 0.6 percent to $1,296.10 per ounce.
Asian stocks have risen near a decade-high, following suit of the strong rally in global equity markets, while the dollar declined after the record of the Fed meeting on September 19-20 showed policymakers are worried about inflation.
The minutes released on Wednesday showed U.S. Fed policymakers had an extended debate regarding the prospects of a rise in inflation and slowing the rate of future rate hikes if it did not.
On Wednesday, San Francisco Fed President John Williams said he anticipated said he anticipated the U.S. central bank to hike rates later this year and penciled in three rate hikes in 2018, and a little more in 2019. Dallas Fed President Robert Kaplan during the previous day that he wants to observe more indications of the upward movement of inflation before lifting rates once more, but that low long-term interest rates may cap how high and fast rates can be increased.
The material has been provided by InstaForex Company – www.instaforex.com