Gold futures recovered after early weakness and settled modestly higher on Tuesday as the dollar shed ground amid rising hopes the Fed will slow the pace of interest rate hike to 25 basis points on Wednesday.
Gold prices fell sharply earlier in the session after the International Monetary Fund upgraded its forecast for world growth this year to 2.9% from a previous prediction of 2.7% in October.
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Market Analysis
May 01, 2026 15:54 ET Central banks dominated the economics news flow this week with almost all major ones announcing their latest policy decisions and many boosted expectations for a rate hike in June. In other news, several countries released the preliminary data for first quarter economic growth. In the U.S., comments by Fed Chair Jerome Powell were also in focus as his term ends this month.