The participants of the gold market try not to take significant actions with the assets ahead of the fed meeting, following which the regulator will announce its decision on the base rate.
MOSCOW, 27 Jan. Gold prices on Tuesday falling slightly after rising the previous day, as investors try to refrain from taking large positions before the fed decision on U.S. base rate, according to AFP.
As at 07.50 MSK December futures for gold on the new York stock exchange Comex became cheaper by 1.8 million, or 0.15%, to 1164,4 dollars per Troy ounce. At the end of trading day before gold were imitated by 0.3% to 1166,2 USD per ounce. The cost of December futures for silver declined by 0.35% to 15,85 USD per ounce.
The participants of the gold market, as traders and other commodity and stock markets, on Tuesday trying to remain cautious and not to take significant actions with assets on the eve of the two-day meeting of the U.S. Federal reserve, which on Wednesday, the regulator will announce its decision on the base rate.
“We see strengthening U.S. growth, but slowing global growth may exert pressure on the decision of the fed. However, we still cannot completely exclude unexpected rate hike in October”, — quotes Agency Bloomberg opinion of analysts at Huatai Great Wall Futures Co.