Market News
Gold rises nearly 2%, spotlight on Fed meet - REUTERS
Summary
- US dollar under pressure
- Fed policy decision due on Wednesday
- Trump to announce pharmaceutical tariffs over the next two weeks
- Silver, platinum and palladium up over 2>#/li###
May 6 (Reuters) - Gold prices rose to a two-week high on Tuesday, supported by post-holiday buying from China and concerns over potential U.S. tariffs on pharmaceutical imports, while investors await the outcome of the Federal Reserve’s policy meeting.
Spot gold rose 1.8% to $3,394.39 an ounce, as of 0936 ET (13:36 GMT), its highest since April 22.
U.S. gold futures also reached a two-week high and were last 2.4% up at $3,403.00.
