Gold prices expectations .. How will the yellow metal respond with the interest reduction?
Gold ended its weekly trading at $ 3,643 an ounce, with gains of 1.5%, as traders expect almost certainly that the US Federal Reserve will reduce Upper Egypt at the monetary policy meeting scheduled for September 16 and 17." target ="_Blank"> Gold The interest rate is a counter -relationship; If the interest rates decrease, the gold prices rise, as the yellow metal becomes more attractive as a safe origin when the returns of other assets such as bonds or deposits. "FX Empire"Gold is going up according to the weekly graphic drawing. The previous standard level of $ 3,500 reaffirmed this upward trend, so this price is now a new support. "You want to" The price of gold is currently coherent over the penetration area, and as long as it remained above the level of 3,550 dollars, we may witness an additional continuation towards the next main goal at about 3,800 dollars." target ="_Blank"> Gold prices generally positive in the short term. As futures contracts are calculated to reduce interest rates, and the continued weakness in the American labor market, gold is in a good position to achieve more gains, as federal reserve decisions are likely to stimulate a new bullish momentum.
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