Limited fluctuations in the global gold market / investors await the results of the two-day US Federal Reserve meeting
Mining News Pro - The gold price on trading on Wednesday, which investors were awaiting the outcome of a two-day meeting of the Central Bank of the United States, did not change much and was traded in limited periods.
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According to Mining News Pro -An ounce gold for immediate delivery in Singapore`s current trading day rose 0.1 percent to $ 1201.64 a barrel.

In the US market, gold for delivery in December rose by 0.1% and stood at $ 1206.

According to John Sharma, an Australian National Bank economist, investors are waiting for signs from the Federal Reserve. I think the central bank will continue to pursue its monetary policy, but it is likely to point out that the Chinese-American trade war may have a negative impact on economic growth.

The central bank will end its two-day monetary policy on Wednesday afternoon. The meeting is expected to raise interest rates for the eighth time since late 2015. Investors also expect interest rates to increase before the end of the year, but the outlook for 2019 is not clear.

Edward Meyer, an analyst at INTL FCStone, predicted the dollar will weaken after the Fed`s announcement.

The stronger dollar will outperform the gold trades that are priced in this currency for non-US investors. On the other hand, raising interest rates prevents investors from buying gold, which is an asset without returns.

According to Reuters, the Dollar fixed at a basket of six large currencies on Wednesday trading and stood at 94,143 units.

Gold has fallen 12 percent in the midst of tightening tensions and rising US interest rates, up from the highest record this year recorded in April. Despite the fact that gold is generally a safe asset, the months of the war between Washington and Beijing have caused investors to buy dollars by believing that the United States will have less losses in the war.

Among other precious metals, palladium for immediate delivery dropped by 0.1 percent to $ 1059.65 an ounce. Each ounce of silver for immediate delivery rose 0.6 percent to $ 14.50. An ounce of platinum for immediate delivery was cut by 0.1 percent, at $ 821.55.


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