The price of gold in the Asian session on Thursday (07/28)2016 rising along with investors further digest the latest view of the Fed and back focusing on monetary policy announcement by the central bank of Japan's Friday tomorrow. When this news was revealed, XAU/USD traded in a range of price levels 1.338 u.s. dollars.
Meanwhile, on the Comex, the New York Mercantile Exchange, the price of gold futures for December delivery increased by 0.91 percent to 1.346 dollars per troy oz. While the price of silver futures for delivery in September experienced significant increases of 1.58 percent to as low as the price of 20 u.s. dollars per troy ounce and the price of copper futures for delivery in September became 2,195 dollars per pound thin ride i.e. of 0.46 percent.
During the trading session Wednesday evening yesterday, the price of gold was able to remove his descent in the midst of the U.S. economic data releases which only showed a rise of thin and the FOMC meeting last night.
Since experiencing a sharp rise in 28 months at the beginning of last July, the price of gold out of two percent as investors took the risk in equities globally. Even so, the price of the precious metal gold is still capable of creeping up 25 percent and is price its strongest in a decade.
The Results Of The FOMC Policy Meeting
On Wednesday night yesterday, the Fed's policy makers have decided to keep interest rates let between 0.25 percent up to 0.50 percent. However, the Fed also stated, the risks-the risk to the outlook of the economy in the U.S. have been reduced. This condition is open opportunities there will be tightening policy this year.
In addition, the U.S. central bank also said the economy in the U.S., has already begun to develop on the level of employment data and there are also showed a strengthening in June. In addition, the Fed policy makers also stated, they will still continue to keep an eye on inflation data and the global economy as well as the development of the financial markets as the basis of a consideration of decision-making at meetings later.
Now the Fed officials were waiting for the initial estimate of GDP data for the second quarter are forecast to indicate the economy is in the United States will rebound from the previous quarter. Meanwhile, a Reuters poll exposes that the Fed would likely await until December to start raising the interest of the tribe.
As already known, the gold price will tend to be bearish when the Fed raises interest rates. It will also be weighing down gold prices gold precious metals and lead compete with asset berimbal behind the flowers.
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