Gold prices rise amid support US Federal Reserve

Gold prices saw also the US dollar fluctuations and clear through US trade yesterday, and the impact of the US Federal Reserve Board, which has had a cautious tone on the issue of raising interest rates soon meeting. Fluctuations increased unit because it did not issue the results as market expectations on the one hand and on the other hand confirmation of the Council on a more conservative outlook on the US economy and bring down the growth of the Council of the word “patience” of his statement led to pressure on the US dollar and gold prices directly.

Gold prices are trading today in the middle of the European trading at $ 1162.31 per ounce after it rebounded yesterday from 1149.37 to 1175.35, to close at US $ 1167.62 per ounce, and this may be the price rose about 1.5%. It is worth mentioning that the investors’ expectations about the Federal Reserve to raise interest rates led to a stronger US dollar and a drop in gold prices from the beginning of possible that we will see some corrections on gold prices in the period that reflects market expectations about the US Federal Reserve and the strength of the US dollar policy, which in If dropped momentum can positively affect the price of gold.

Gold prices – the percentage of the purchase centers on XAU / USD about 44%, traders yesterday entered into a purchase centers, and was open purchase centers for traders 46%. Longs declined 6.6% than yesterday and 13.3% below the levels of last week. Short positions rose 2.7% than yesterday and 6.5% below the levels of last week. The total open positions for traders 1.7% lower than yesterday and 4.9% below its monthly average. We use speculator Confidence Index Reverse indicator, and the fact that the majority of traders are vendors that indicates a possible rise in price. Market sentiment has become more downs compared with yesterday and last week. Price trends in the recent bullish market sentiment give a look.

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