Gold is trading below the price of $ 1100 per ounce ahead of the conclusion of the Fed meeting

Gold is trading below the price of $ 1100 per ounce ahead of the conclusion of the Fed meeting

Gold is trading below the price of $ 1100 per ounce ahead of the conclusion of the Fed meeting

Gold prices settled below the price of $ 1,100 per ounce on Wednesday, as investors awaited the outcome of the monetary policy meeting scheduled for later in the session in search of new indicators about the timing of a rate hike.

On the Comex division of the New York Mercantile Exchange, December gold rose for December delivery rose 1.00 cents, or the equivalent of 0.09%, to trade at $ 1.097.70 an ounce European morning trading.

A day earlier, gold fell 20 cents, or the equivalent of 0.02%, to close at 1.096.70 futures fell to their lowest price in five and a half years at $ 1.072.30 per ounce on July 24.

Also in the Comex, silver September delivery rose 2.3 cents, or the equivalent of 0.16%, to trade at $ 14.66 an ounce.

Investors are awaiting the outcome of the Federal Reserve to see if the decision-makers Siqoumoua give any indication about the timing of a rate hike in the future.

Gold and exposure to heavy selling pressure in recent months amid speculation that the Federal Reserve may raise interest rates for the first time in nine years at the earliest in September / September

And affect expectations for higher borrowing rates for gold and lead to its decline, as the precious metal is struggling to compete with higher-yielding assets when the price goes up.

The dollar index, which measures the strength of the dollar against a basket of six major currencies, rose 0.2% to hit 96.96, in early Wednesday.

Usually Maaather high US dollar on gold, because it dampens the metal attractive as an alternative asset and makes dollar-denominated commodities more expensive for holders of other currencies.

Elsewhere in the metals trade copper for September delivery rose 0.6 cents, or the equivalent of 0.24%, to trade at $ 2.408 during morning trading in London. Prices have fallen to their lowest level in six weeks of 2.336 recorded on Monday.

Shanghai index rose after choppy trade on Wednesday, more than 1% after the opening, but he remained somewhat negative in the second half in the middle of the day, to rise again in the end more than 3%.

Stock markets fell sharply in China earlier this week, forcing decision-makers to intervene and provide measures to boost liquidity and calm investors.

On Monday, the Shanghai Composite Index fell 8.5%, the biggest decline in a single day since February 2007, amid reports that the purchase of equity securities may decline.

China is the largest consumer of copper in the world, and formed 40% of world consumption last year.

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