Gold continues to retreat prior to the launch of the Federal Reserve meeting

Gold prices in the European market fell Tuesday to continue their losses for the second consecutive day, with the lowest level in a week, while continuing to restore US currency levels versus a basket of global currencies such as the launch of the Federal Reserve, at its first meeting during The period 2018 and the last meeting under the leadership of Janet Lane, whose mandate officially expires in early February February. Gold prices dropped by more than 0.2% up to 35, 00 GMT to trade at $1338.25 from the opening level of $1340.76, registering the highest level of $1342.07, and the lowest level of $1334.43. Yesterday, gold prices lost 0.8%, in the second loss in three days, with the constant profit of the highest in the year and half $1366.05 of the ounce, and the rebound levels of the US dollar. The dollar index rose by 0.2 per cent and continued to rise for the second consecutive day, reversing the continuing recovery of US currency levels versus most of the world's currency, especially against the European currency and the pound sterling, puts negative pressure on the prices of minerals and commodities in US dollars. The recovery of US currency levels comes with the backing of President Donald Trump's remarks at Davos's economic forum that he wants to have a strong dollar in the addition to the 10-year-old American bonds to 2.727% is the highest level since December 2014. Today, the open Market Committee of the Federal Reserve Council begins its first periodic meeting during the period 2018 to examine monetary policies appropriate for the development of the US economy, its decisions will be issued on Wednesday, and this meeting is the last under the leadership of Janet Lin before handing over the presidency of the Council to Jerome Ball, new president. Most projections indicate that the Board will maintain interest rates in the range of 1.5 per cent, especially after three times during 2017, stressing the strength the country's economic growth trajectory, and markets await the Council's monetary policy statement in search of new signs for the future implementation of the alpha-price-raising cycle During the year, especially since inflation is still weak in the short and medium term. Gold holdings of SPDR Trust, the world's largest gold-backed indicators, fell yesterday by 1.47 metric tons, and the second consecutive decline per day to a total of 846.67 metric tons.