The gold price futures contract rose by nearly one percent during the US session, to see its rebound for the second consecutive meeting of the lowest her since the beginning of March March amid a rebound of the US dollar index is also the second session from the top of him since the beginning of this month according to the relationship Their inverse following the economic developments and statements that they followed on Wednesday from the US economy, the world's largest economy. On the threshold of disclosure of US housing market data and the decisions and orientations of the Federal Reserve's monetary policy makers.
At 1:55 pm GMT, futures for gold prices have risen by 15 April next April, 0.82 percent for the time being to be traded at $1,322.60. The highest explanation since 15 of March March compared with the opening at $1,311.90 of the ounce, amid the high US dollar index 0.38 % to 90.03 levels compared to the opening at 90.37.
We have followed the American economy with a reading of the current account index, which showed a widening deficit to $128.2 billion, compared with $101.5 billion in the third quarter, to prepare this is worse than the outlook that indicated a deficit of about $125.0 billion, and this comes at the threshold of revealing the housing market data which may reflect the art The sale of existing houses is 0.4% to about 5.41 million homes, compared with 3.2 percent of the 5.38 million homes in January last January.
The markets also look closely at the decisions and orientations of the Federal Reserve's monetary policy makers during the meeting of the Federal Committee held currently in Washington under the leadership of the new governor of the Federal Reserve, Jerome Powell, who is expected to follow the Committee's decisions and directions. Following the fact that the meeting was half an hour after the Federal Reserve press conference.
It is expected that monetary policy makers would present at the committee meeting which started Tuesday and expire at 6:00 p.m. (0600 GMT) on raise interest on federal funds by 25 basis points for the first time this year to between 1.50% and 1.75% at their first meeting under the leadership of Powell , investors are now waiting to disclose the Commission's forecasts of growth rates, inflation, unemployment and interest rates for the next three years.
Powell, who left Janet Lynn earlier last month as governor of the Federal Reserve, noted earlier this month during the semi-annual testimony to the Federal Reserve governor in front of Congress because raising interest on federal funds four times this year is a gradual lifting, explaining that it is pleasing The pace of interest-raising will be considered with its principles that it is difficult to tighten monetary policy rapidly given the low levels of inflation.
We would like to point out that the pace of job creation has accelerated markedly over the past month to about 313, 000 jobs added concurrently with the hourly rate slowing more than expectations, Powell stressed the aspirations that the labor market could see further improvement before wages were more recorded, explaining that there was no evidence It is clear that there is a strong wage increase and adding that the labour market may continue to improve without reflecting the rise in inflation.
The gold holdings of the S-P-D Gold Trust Fund, the world's largest gold-supported indicator funds, declined on on Tuesday, 0.3 metric tons, to see its first retreat in more than two weeks, thus reaching the Fund's total holdings of about 850.54 metric tonnes.