By Gina Lee

Investing.com – Gold was up on Wednesday morning in Asia, uncertainty of inflation gave the yellow metal a boost.

By 11:39PM ET (03:39 GMT), they were up 0.2% to $1,860.30 After falling to a 1-month low during the last session, the climbed on Tuesday.

Benchmark also stabilised after falling to a one month low in the last session.

“Investors are struggling with how to assess the landing path of inflation now that peak inflation is behind us. The question for the market is how long it will take to normalize, and that uncertainty is helping gold,” SPI Asset Management managing partner Stephen Innes told Reuters.

The U.S. Federal Reserve has been fighting 40-years of high inflation, and is considering big interest rate hikes. Fed Bank of Atlanta President Raphael Bostic, one of the central bank’s dovish policymakers, urged the Fed to tighten policy with care and in an essay he wrote and published by his bank on Tuesday.

“Gold investors notice the softer change in the Fed language, and dips to $1,850.00 are met with solid support,” Innes at SPI Asset Management told Reuters.

For more information on policy, investors are now waiting for minutes of the Fed’s last meeting. They will be available later today.

The Reserve Bank of New Zealand has increased its interest rate to 2.0% in Asia Pacific. This was according to Investing.com. On Thursday, the Bank of Korea will announce its policy decision.

Other precious metals saw silver drop by 0.2%. The price of platinum increased by 0.1 while that for palladium dropped 0.5%.