Gold rises in anticipation of Powell's comments

The price of gold on Tuesday is rising for the third session in a row amid a decline in the dollar and treasury yields ahead of a speech by the head of the US Federal Reserve Jerome Powell. Market participants are confident that the regulator will start raising interest rates very soon, which puts pressure on the US currency exchange rate. 

The spot price of gold rose today to $1.810 per troy ounce, subsequently declining to $1.805.

The yield on 10-year Treasury bonds retreated from a near two-year high, and the dollar declined against its main competitors. 

Jerome Powell promised to prevent further acceleration of already high inflation. And it is the inflationary rhetoric of the policy that will be the central topic of the hearings in the banking committee devoted to the consideration of Powell's candidacy for a second term at the head of the Fed.

In addition to Powell's speech, markets are waiting for tomorrow's data on consumer prices in the United States: the index is expected to have grown in December by 5.4% year-on-year compared to November's 4.9%.

Palladium has risen in price today to 1,937.78 per ounce, silver – 22,710 per ounce, and platinum – up to 950,00.