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Gold prices recover after yesterday's drop, the biggest one-day loss in 2014 sliding to USD1,190.30. The precious metal is currently quoted at USD1,198.00 or +0,36% a troy ounce. Market participants are awaiting the result of the FED's two-day meeting starting today to assess the timing of a benchmark interest rate hike. Experts specializing in the projections of US policy, note that the Fed could remove the phrase "extended period" and replace it with the phrase about the slow rate increase, depending on the incoming data. However, to not reach the target level of inflation in the United States could force the monetary authorities to remain faithful to the formulation of the long-term.
GOLD currently trading at USD1,198.00
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