Gold prices rise

Gold prices increased on February 22 morning after falling earlier, Report informs referring to the auction data.

The price of April futures for gold on the New York Comex exchange rose by $1.65, or 0.09%, to $1,844.15 per troy ounce. March silver futures fell 0.3% to $21.825 an ounce. On February 21, gold prices fell 1%.

The policy of the US Federal Reserve System (FRS) remains one of the main events of the week for the markets, as traders expect the publication of the minutes of the regulator's February meeting later on February 22. In the document, investors hope to find signals about the Fed’s plans regarding the discount rate, including the timing of the possible end of a series of increases.

At the same time, US GDP statistics are expected on February 23. Experts predict that the original estimate, which assumed growth of 2.9% in the last quarter on an annualized basis (if GDP grew at the same pace for four consecutive quarters), will remain unchanged.

Fed's policy and US macro statistics have a direct impact on the dollar exchange rate, to which gold is sensitive - the more expensive the dollar, the less gold is available for purchase in another currency, and vice versa.