March 16, 2016, 09:59 | Finance | precious metals | Gold
The price of gold in today’s trading demonstrates weak growth amid expectations of the outcome of the meeting of the Federal Reserve System (FRS) the USA.
As of 8:29 MSK price of April futures on gold on the New York Mercantile Exchange Comex rose by 0.19% to $ 1233.3 per troy ounce, reports PRIME.
Later on Wednesday, the Fed’s decision will be announced on the US base interest rate. Most experts believe that the regulator will keep the benchmark interest rate at the current level of 0.25-0.5%, but investors have decided to suspend activity until the announcement of the results and not to take significant steps.
At the moment, analysts do not have a clear prediction about the price of gold in the short term. Experts note that it will strongly depend on the further plans of the American regulator of the monetary policy.
Increasing the base rate of the dollar will lead to growth, which will put pressure on the price of the precious metal as will make it more expensive for holders of foreign currencies.
No comments:
Post a Comment