Gold Price Increase Slightly

During the Asian trading session this morning (15/12), gold opened slightly higher while the U.s. dollar slowed. But gold is estimated to still be weakened, ahead of Federal Reserve meeting which is widely predicted to raise U.S. interest rates.

Spot Gold rose 0.4 per cent towards 1064.75 U.s. dollars per troy ounce after dipped 1.1 percent in pentutupan Monday (14/12). The position is simply not in dispute up to USD 20 of lowest level six years at USD 1, 045.85, which had touched earlier this month. Overnight, gold futures dropped sharply as investors continued to support the likelihood of a rise in U.S. interest rates, even though the movement of the Us dollar Index tends to slow down.

Yesterday, the CME increases the possibility of placing FedWatch Groups the u.s. rate at 81.4 percent, up from Friday's level at 79.4 percent of the closing moments of last week's trading session. These settings are based on the value of the 30-day Fed funds futures CME Groups, used to indicate the market's views on the possible changes in short-term interest rates.

In the determination of policy meeting Thursday (17/12) early the next day, the Federal Reserve is estimated to increase U.S. interest rates for the first time since June 2006. At the same time, the FOMC will also release a quarterly economic projections for the next few years. In these projections, the U.S. GDP forecast, contained data on unemployment, PCE Price Index estimation and timing changes to the Federal Funds Rate to come. Last September, the FOMC projected interest rates will reach 1.4 percent in 1999 and 2.6 percent in 2017.