00:41
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Gold tries to recover from its lowest levels during 2018 prior to the results of the Federal Reserve meeting
The gold price at the European market was signed Wednesday for the first time in three days, attempts to recover from its lowest levels during 2018, with the United States dollar coming up against a basket of currencies, just prior to the outcome of the Federal Reserve meeting later in the day.
Gold prices rose by more than 0.5 percent to:@@ GMT to deliberate at the $1310.58 level of the 1303.65, registering the highest level of $1311.90, and the lowest level of $1303.65.
Yesterday's gold price lost 0.9%, the second consecutive daily loss, recorded at the lowest level in five months of $1301.74, which is also the lowest gold price in 2018, by the strong ascent of the US dollar.
The gold was reduced by 0.8% over the past April April, in the second monthly loss in the last three months, the performance of the United States currency, coinciding with the sluggish demand for safe havens in financial markets.
The dollar index on Wednesday slipped by about 0.3 percent, in the process of correcting and reaping profits, after scoring yesterday's highest level in four months at 92.35 points, reversing the ascent the U.S. currency versus a basket of coins, which currently supports the recovery of gold prices and other metals denominated in US dollars.
The interruption of the United States currency, prior to important data on the labour market in the US, is represented in the new private sector job data during April April, as well as the outcome of the Federal Reserve meeting.
The Monetary Policy Committee of the Federal Reserve Council (Fed) is to conclude its meeting since Tuesday to determine monetary policy and interest rates suited to the growth developments of the world's largest economy, and most projections indicate that interest rates are maintained unchanged at a rate of 1.75%, The U.S. interest decision was issued, and the monetary policy statement by 18@@ GMT.
Investors are focusing on the statement of monetary policy, which is expected to provide strong evidence of the prospects for raising interest rates for the second time this year during the June June meeting, amid signs of a possible acceleration in the growth of the US economy.
Gold holdings of the SPDR Gold Trust, the world's largest gold-backed indicator funds dropped yesterday by 4.43. MT, in the first drop since 4 April last April, to bring down the total to 866.77 metric tons, which is the lowest level in a week.
