Gold prices continued to set a 5-week peak as the dollar declines
Gold prices rose to the top 5 weeks as the dollar continued to fall after the signal from the Fed meeting minutes in December last year made investors skeptical of interest rate increases.
Gold price increased by USD 16 in February, equivalent to 1.4% to the closing at 1.181,3USD / oz on the Comex in New York Stock Exchange Mercantile. This is the highest closing level since 29/11.
Gold price movements in the session. Chart: Finviz
Spot gold price fluctuations on 05-01-2017 Kitco day (green line)
Therefore, it seems investors have reduced expectations of a rate increase drastically from the legislative world.
Professionals in FXTM that like everyone, the Fed "did not know the specific economic policy will be, and how it will impact on growth, unemployment and inflation."
Therefore, predictions of increased interest rates three times in 2017 compared to the previous two mainly based on those predictions, nothing is certain.
ICE Dollar index measuring the dollar's exchange rate versus six major currencies in the basket of currencies fell 1.2% response to the Fed meeting minutes.
Gold futures prices rose 7 of 8 last session, seems to be experiencing a slight rebound after intermittent discounts in December because of statements made economic stimulus policies of President-elect Donald Trump.
Hantec Markets Specialist in the gold price is going to comment on the state of recovery, the opposite way round the dollar price. Accelerating momentum day by day.
In the other transaction table, silver prices for March delivery rose 0.5% to 16,637USD / oz.
Platinum for April delivery rose 3% to 976USD / oz.
Palladium prices fell 0.1% for March delivery down 738,2USD / oz.
Palladium prices fell 0.7% for March delivery down 2,538USD / pound.
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