FX & CFD trading involves significant risk
The price of gold rises the third consecutive session , as a weakening dollar boosted demand for the metal from foreign buyers . Meanwhile, investors are waiting for the meeting of the U.S. Federal Reserve , which will be held next week.
Gold prices also got support from several Fed leaders comments on monetary policy made the previous day , while some investors decided that the policy shift less close than previously assumed .
Fed President Bullard St. Louis said that the recent improvement in the labor market are paving the way for the Fed to cut incentives.
Fed President Jeffrey Lacker , Richmond said that although economic growth in the U.S. is unlikely to significantly accelerate in the next year , the central bank can do little more to support growth .
Yet statements by the Fed helped ease fears about the rapid collapse stimulate the U.S. central bank for the two-day meeting to be held December 17 and 18 .
Experts note that a large proportion of traders are betting that gold prices will fall , if the central bank will reduce the purchase of bonds in December , and gold prices rose when some of these investors have closed these positions in the last days .
Cost fervalskogo gold futures on the COMEX today rose to $ 1267.50 per ounce.
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