Gold is getting cheaper in trading this week, as investors await a meeting of the US Federal Reserve System (FRS) on the interest rate in the framework of monetary policy in the country.
The price of April gold futures on the New York Stock Exchange Comex fell to $ 1,243.7 per troy ounce, by $ 15.7, or 1.25 percent. May silver futures drop to $ 15.48 an ounce, down 0.83 percent
On March 15-16, the US Federal Reserve will hold a meeting to determine the future course of monetary policy in the United States. Investors assume that the regulator will keep the base interest rate at the same level of 0.25-0.5 percent and will not raise it in the context of the continuing instability of the global economy.
Waiting for the US Federal Reserve meeting leads to the strengthening of the dollar. The rise in the US currency affects gold traded in dollars, making it more expensive in foreign currencies.
In addition to the US Federal Reserve's decision on the interest rate, this week the Bank of Japan, the Bank of England and the Bank of Switzerland will also make corresponding decisions. Uncertainty in the global market forces investors to suspend their activity while waiting until the results of the meetings are announced. This, in turn, has a downward effect on the price of gold.
Gold declines in anticipation of the US Federal Reserve meeting
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Azovpromstal® 15 March 2016 г. 09:28 |
