Gold prices rose above the key $1,800 level on Tuesday as the US dollar dropped after the Bank of Japan’s surprise policy tweak, while markets continue to weigh the outlook for the Federal Reserve’s interest rate strategy.
Spot gold jumped 1.5% to $1,814.22 per ounce by 11:30 a.m. ET, its highest since mid-August. US gold futures also gained 1.5% to trade at $1,824.50 per ounce.
Earlier in the day, the Bank of Japan shocked global markets with a surprise tweak to its bond yield control that allows long-term interest rates to rise more, a move aimed at easing some of the costs of prolonged monetary stimulus.
Panthera Resources Plc (LON:PAT) was incorporated in the UK and Wales in 2017. The company is focused on its gold exploration and development projects in India and West Africa and the optimisation of other mineral projects.