FX & CFD trading involves significant risk
Gold prices rise as investors bet on the continuation of the Fed's stimulus policy favorable to the growth of prices.
Prices rose by 7 per cent compared to October 15 marked three-month low due to investors' hopes that the recent debate on the budget in Washington will force the Fed to keep the program of bond purchases in the current level of $ 85 billion a month. The Central Bank will announce the results of the two-day meeting tonight.
According to experts, gold has always been a commodity asset, the most independent of the Fed's decision to reduce the purchase of bonds. The outcome of the Fed meeting depends on whether investors will withdraw money from the market or will be price increases .
Prices have risen in China , completing the previous trading at a discount to international prices for the first time since the beginning of the year, as investors would like to get the money for fear of tightening credit conditions. Extra charges in India are still close to a record due to the reduction of supply.
The cost of the December gold futures on COMEX today rose to $ 1359.60 per ounce.
All posted material is a marketing communication solely for informational purposes and reliance on this may lead to loss. Past performance is not a reliable indicator of future results. Please read our full disclaimer.