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- Gold retreated from five-week highs
Gold retreated from five-week highs
Gold prices are adjusted to five-week highs in anticipation of the Fed meeting . Investors have decided to refrain from taking action before a meeting of the U.S. Federal Reserve , scheduled for this week.
Wednesday should be completed a two-day meeting of the central bank of the USA , and traders will carefully analyze the Fed's statement , published on its results . Many investors expect the Fed officials postponed curtailing its program to stimulate the economy until next year and will use it as a tool that can reverse the damage caused by the 16-day suspension of the U.S. federal government.
However, futures prices for gold is still trading lower by 19 % this year . This is due to the fact that investors expect the Fed soon to minimize the program to stimulate the economy .
The cost of the December gold futures on COMEX today dropped to $ 1339.80 per ounce.
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