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- Gold rose in anticipation of Fed decision
Gold rose in anticipation of Fed decision
Gold prices on Tuesday, rose against the backdrop of falling U.S. currency in anticipation of the outcome of the meeting of the Committee on the open market the U.S. Federal Reserve, which is expected to shed light on the prospects for monetary policy in the country.
In February, waiting for further stimulate the U.S. economy have raised the cost of precious metal to a maximum in November last year point - around 1790 dollars per troy ounce.
Low interest rates are favorable for gold, because it reduces the loss of profit from investments in precious metals, not bearing interest.
According to IMF, Russia in March, boosted gold reserves at 16.55 tons, Mexico - 16.8tons, and Argentina - to 7 tons.
Demand for the physical market in India - the world's largest consumer of gold - rose on the Feast of Akshay Tritium, which is traditionally accompanied by a purchase of gold ornaments, but remains relatively weak due to the depreciation of the rupee against the dollar.
May futures for gold on the COMEX today rose to $ 1649.1 an ounce.
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