The futures of the gold price in a narrow range tilted upward during the American meeting to see its highest since 20 February last February amid a retreat index the US dollar to the lowest since 19 of the same month according to their inverse relationship amidst the scarcity of data and economic developments by The US economy is the world's largest economy on Monday at the doorstep of the members of the Federal Open Market Committee.
At about 01:59 pm GMT futures for gold prices increased delivery of 15 April April 0.14% for current trading at $1,357.60 the top is explained in five weeks compared to the opening at $1,355.70 of the ounce, amid a drop in the US dollar index of 0.31% to 89.16 levels compared to the opening at 89.44.
This week is currently looking to the members of the Federal Open Market Committee of the New York Federal Reserve Bank President William Dudley in a panel discussion about the regulatory reform in the US Chamber of Commerce in Washington and the president of the Cleveland Federal Reserve Bank Loretta Meister about expectations Economics and Politics at Princeton University, New Jersey, as well as Randall Quarles's speech at the annual meeting of the World Hope Forum in Atlanta titled "Consumer Protection Roles and small business access to credit in financial inclusion".
This comes after hours of the meeting of the Federal Open Market Commission 20-21 March March, which was passed through the policy makers cash at the Federal Reserve Bank increase the short-term reference interest rates by 25 basis points for the first time this year under the leadership of the new governor Jerome Powell is between 1.50% and 1.75%, which was expected by analysts at the time.
Members of the Federal Commission raised their quarterly forecasts of growth and inflation as well as the future of interest rates and lowered their expectations of the rates unemployment for the next three years, reflecting the confidence of the monetary policy makers in the Federal Reserve about the financial stimulus that includes Tax cuts and increased government spending will boost the performance of the economy and inflation, thus supporting further tightening of monetary policy at a faster pace later.
We would like to point out that the meeting of the Federal Committee has resolved the controversy that has prevailed over the markets since the end of last month, when it was first mentioned in its biannual testimony to Congress that raising interest on federal funds four times this year is a gradual tightening, with members of the Federal Committee staying in anticipation Charges of raising interest three times this year amid the sign of further tightening monetary policy and expanding budget normalization plans.
At the other level, the growing concern of investors about the outbreak of a trade war between the world's largest economy and the second largest economy following the signing of US president Donald Trump last Thursday, new tariffs on China's imports for his country are estimated at $60 billion and China's response was then revealed by Plans to levy tariffs on US imports amounting to $3 billion.
This has led investors to divert liquidity to safe havens, primarily precious metals, especially gold, and to abandon markets with high stakes and on top of the stock markets that last week saw its worst weekly performance in six weeks, before it was refreshed with the early week of the annexation Corrective operations following the report, which touched on the relative erosion of trade tensions between the United States and China.