Gold sits before the Fed meeting

Stabilized gold on Monday before a meeting of the US Central Bank could give clues to future trends in US interest rates and the dollar, two major factors affecting precious metal prices .
The spot gold price was set at $ 1223.14 at the end of the session in the United States, after hitting a low of $ 1211.08 at the beginning of the month.

The rise in the US dollar would increase the cost of gold denominated in dollars for other currency holders, thus reducing demand.

The soaring dollar since mid-April has lost about 10% of gold in immediate transactions.

The Federal Reserve should keep, The US central bank, at its meeting that starts Tuesday and lasts two days, remains unchanged after the increase decided in June, but investors are looking for evidence on the timing of the next increase.

Investors hope to raise rates twice this year and three times

Among the other precious metals, silver rose 0.4% in the spot trade to $ 15.52 l. ounce, platinum rose 0.2% to $ 827 an ounce and palladium rose 0.3% to $ 923.50 ounce. [ad_2]
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