Gold struggles for direction amidst Fed outlook and US dollar strength.
TL;DR Summary
Gold prices were up 0.4% at $1,990.34 per ounce, supported by a weaker dollar, but remained range-bound as traders awaited fresh economic data that could influence the US Federal Reserve's next policy decision. The Fed is expected to raise rates by 25 basis points in May, according to the CME FedWatch tool. Platinum shed 3.4% at $1,085.91 an ounce and palladium plunged 4.5% to $1,530.33 due to profit-taking off recent highs.
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