December 11, 2017
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Gold prices have seen weak trades with the beginning of the week to keep their trades near the lowest level in five months, which has been recorded over the past week, and this comes amid stable dollar levels before the Fed's meeting.
Gold prices are currently traded at the level of $1250.80 for the ounce, after registering the lowest level at $1249.00 for the ounce. The meeting today opened at the level of $1250.60 per ounce, registering the highest level at $1251.00 per ounce.
US job report for last month showed a rise in the number of new jobs and stabilized unemployment rates at their lowest level in 17 years., while wage rates are still weak, which may affect the future of monetary policy and interest rates over the coming year.
The decline in gold prices has stalled after this data, but precious metals have lost enough momentum to keep the trades close to their lowest levels in five months.
Meanwhile, investors are waiting for what will come out of the Federal Reserve Bank meeting this week, whether it is expected to raise interest, or its expectations for the course of monetary policy over the next year.
