The gold price progressed on Wednesday, rebounding after reaching a one-week low during the session previous. Markets await the publication of the minutes of the meeting of January from the Federal Reserve for guidance on prospects for lower rates.

Spot gold prices increased by 1.1% to reach $4,929.69 per ounce at 4:14am GMT, after falling by more than 2% on Tuesday.

American gold futures for deliveries in April increased by 0.9% to $4,949.20.

According to Jigar Trivedi, Senior Research Analyst at IndusInd Securities, “generally speaking, a range of $4,700 to 5 $100 will be big enough for the whole year.”

The cash price fell by 2.2% at $75.05 per ounce after losing more than 5% during the session previous.

Spot platinum rose 2% to $2,049.42 per ounce, while palladium gained 1.9% to 1,714.64 dollars.