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Gold Prices Trade Slightly Higher on Reports of Global Central Banks’ Support

Gold prices traded slightly higher on Tuesday in Asia following reports of potential monetary policy easing by major central banks.

Gold futures for April delivery rose 0.3% to $1,599.60 by 12:59 AM ET (04:59 GMT).

Central banks including the U.S. Fed, European Central Bank, Bank of Japan and Bank of England have hinted at action in recent days.

As for rate cut expectations, fed funds futures are pricing in a 100% chance that the Federal Reserve will cut rates by 50 basis points at its meeting March 18, Investing.com’s Fed Rate Monitor Tool showed.

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