Gold prices rose 0.5% Still Got There are indications of the Fed's rate hike

PT Equityworld, Chicago - Gold prices got a boost from a weaker United States dollar (US) after the US central bank or the Federal Reserve indicated raise interest rates sooner.

Gold for April delivery rose to US $ 1,239.30 an ounce in electronic trading. The price of gold rose 0.5 percent to US $ 1,233.30. Silver prices decrease 0.3 percent to US $ 18.02 per ounce.

The results of the meeting or the meeting of the US central bank the Federal Reserve on 31 January to 1 February 2017 affected the market. Fed members indicated a rate hike as soon as possible but the fiscal policy of the US president Donald Trump to be a record.

Usually signal the Federal Reserve will raise interest rates boost the US dollar. Then the impact on the gold price. However, the US dollar index fell mainly instead turned toward the US dollar index against six other currencies. The US dollar index slipped 0.1 percent to 101.31.

On Tuesday, the US dollar index was the highest level since January 12 after the Philadelphia Fed president Patrick Harker said support a rate hike as soon as the origin of the data do support. Lately, the price of gold is located in a narrow band that influenced the stock market. Plus there is a decrease in demand from Asia in January.

"It is noticeable that the stock exchange of choice when it continued to strengthen and prevented the price of gold to continue the significant strengthening. It seems that the risk of higher demand, "said Carsten Fritsch, analyst at Commerzbank.

As is known, the US stock market opened lower in early trading. Then closed the variation in trading New York time. At the close of trading on Wednesday (Thursday morning GMT), the Dow Jones stock index rose 31.61 points or 0.15 percent at 20774.61. Stock index S & P 500 slipped 2.69 points or 0.11 percent at 2362.69. Nasdaq stock index slipped 5.32 points or 0.09 percent at 5860.63.


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