January 04, 2018
ma
Gold prices fell during Thursday's trade for the second straight session after the minutes of the Federal Reserve Bank meeting held in December December, which saw an optimistic trend on interest rates from bank members, which helped support the dollar.
Gold prices are currently traded at the level of $1306.92 for the ounce, after registering the lowest level at $1305.89 for the ounce. The meeting today opened at the level of $1313.16 per ounce, registering the highest level at $1313.61 per ounce.
The record of the Fed's meeting showed that the members expect cuts in corporate and personal taxes will increase spending by consumers and business sectors, although they are still somewhat uncertain about the impact of the recent reform efforts.
The Federal Open Market Commission raised its forecast for GDP growth for 2018 from 2.1% to 2.5%. The meeting's minutes indicated that future changes in fiscal policy were a factor pushing the bank members to boost their expectations for real GDP growth over the next two years.
While some members had positively expressed the high stock market indices, some expressed concern that the retention of expansionary monetary policy would inflate the bubble in equities.
These statements by the FBI contributed to the rise of the dollar to the lowest levels, forcing the goods to start selling for profit, especially after the gold record was highest in three months during the week's trades.
