December 11, 2017
ma
Gold prices on the European market rose on Monday as part of a five-month low-level recovery effort, with the US dollar rising against a basket of global currencies, but the gains are limited ahead of the start of the Federal Reserve Board meeting, which is expected to increase interest rates American for the third time this year.
Gold rose by 0.2% until 10:25 GMT to deliberate at the $1250.90 level of the opening level of $1247.36, registering the highest level of $1251.43, and the lowest level of $1246.93.
Gold prices ended Friday's stable dealings without any significant change, after the previous day's lowest level in five months was $1243.94 for the ounce.
Over the past week, prices have 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.
The dollar index declined by 0.2%, on the way to record the first loss in six days, in the correction and profit-making processes, after the index was recorded on Friday the highest level in three weeks is 94.06 points, and the rise of the US currency has stalled in favor of higher prices for goods and minerals denominated in US dollars.
The Federal Reserve will begin its last regular meeting Tuesday during 2017 to discuss monetary policies appropriate to the developments of the US economy, to issue its decisions on Wednesday, and it is widely expected that the Council will raise interest rates by 25 basis points to a range of 1.50%, on the third Increase in interest rates during the current year.
Financial markets focus on the statement of monetary policy, in search of new indications of the continuing tightening of monetary policy over the coming year, and knowing whether the Federal Reserve will raise interest rates for three new times during 2018, or only raise it twice according to the expectations of most experts Economy and money.
Gold holdings of the SPDR Gold Trust, the largest global indicator funds supported by gold, remained on Friday with no significant change at a total of 842.81 metric tons, the lowest level of holdings during the current month.
