Gold futures settled notably higher on Tuesday as the dollar tumbled amid speculation the Federal Reserve will start reducing interest rates from the middle of next year.
The dollar index fell to 102.61 before recovering to 102.84, but was still down more than 0.3% from the previous close.
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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.