The U.S. Federal reserve again kept its base rate at a minimum level of 0-0. 25% per annum, but did not rule out the possibility of a rate increase at the December meeting, which affected the December futures.
MOSCOW, 29 Oct. The cost of copper and gold maintains a negative trend on Thursday after the Federal reserve system (FRS) the USA did not exclude the possibility of a rate increase at the December meeting, according to AFP.
As at 08.34 GMT December futures for gold on the new York stock exchange Comex became cheaper by 16.2 million, or 1.38% to 1159,8 dollars per Troy ounce. The cost of December futures for silver declined by 2.35% to 15,91 USD per ounce. December copper futures on the Comex became cheaper by 0.47% to 2.35 USD per pound (about 0.45 kilograms).
The U.S. Federal reserve on Wednesday again kept its base rate at a minimum level of 0-0. 25%, as analysts expected. While the regulator did not rule out a rate hike in December, depending on employment and inflation.
The fed last raised the base rate 29 June 2006. In 2007-2008, the regulator gradually reduced rate until, until it reached the lowest level of 0-0. 25% in December 2008.
“Statement by the Committee on open market FRS revived the chances of a rate hike in December and forced the gold to interrupt the growth of cost” — leads the TV channel CNBC opinion of the Director of commodity products trading at BMO Capital Markets Corp. in new York, Wong Ty (Tai Wong).