December 13, 2017
ma
Gold prices on the European market fell on Wednesday near the lowest level in five months, under pressure of weak investment demand for metal as a safe haven, this comes as important data from the United States on inflation levels during November November, prior to the Federal Reserve's decisions at the conclusion of its meeting The last league during the current year.
Gold fell by about 0.2% by 10:40 GMT to deliberate at the $1241.40 level of the opening level of $1244.19, registering the highest level of $1245.24, and the lowest level of $1240.60.
Yesterday's gold prices ended by 0.2% high, in the second gain in three days, by reversals from the lowest level in five months to $1236.49 of the previously recorded transaction.
Gold prices last week lost 2.5 percent, the third consecutive weekly loss, and the largest weekly loss since July last July, as the US dollar rose against a basket of global currencies.
Investors await the day after a busy day of important statements and decisions from the United States, many will affect in the direction of trades in the US currency, and in the price of metals and commodities denominated in US dollars.
The most important of these data on US inflation levels, with the consumer price index issued during November November, indicate a rise of 2.2% per year from a 2.0% rise in October October, and with monthly reading, 0.4% rise from 0.1%.
This positive data will enhance the likelihood of the Federal Reserve continuing to tighten the US monetary policy during 2018, especially since the US central relies very much on the improvement of inflation levels until the next year's full-interest-rate increase cycle is implemented.
Today, the Open Monetary Policy Committee of the Federal Reserve Council concludes its regular meeting from yesterday, to discuss monetary policies suitable for developments in the growth trajectory of the US economy, with the decision of interest, monetary policy statement and economic forecast to be issued by the hour 19:00 GMT, Janet Lynn speaks Federal Reserve head by 19:30 GMT.
Most forecasts in financial markets indicate that the Commission raised interest rates by 25 basis points to a range of 1.5%, in the third increase in the prices interest during the current year, so that the Federal Reserve has implemented the entire cycle of increased interest rates during the current year and previously defined.
Investors focus on the statement of monetary policy and the economic outlook of the Federal Reserve, in search of indications of the process of further tightening the policy American cash during 2018, knowing whether the Federal Reserve will raise interest rates for three new times over the next year.
Gold holdings of the SPDR Gold Trust, the world's largest gold-backed indicator fund, remained unchanged yesterday. This is for the third consecutive day at a total of 842.81 metric tonnes, the lowest level of holdings in the current month.
