Gold prices maintain minor profits before the federal decision

Gold upheld its minor profits on Wednesday morning, as the Federal Reserve’s decision is approaching the interest, amid the expectation that officials will deliver decisive signals about monetary policy trends. The metal was circulated near $ 3,330 per gram, after an increase of 0.4% Tuesday, driven by the decrease in treasury effects to a strong auction for the seven -year bonds. The US Central Bank’s policymakers are expected to keep interest rates unchanged, despite the constant pressure from President Donald Trump on Federal President Jerome Powell to lower borrowing costs. However, the hardness of the US economy has strengthened the justifications to maintain the current policy. Gold usually benefits from low mortgage returns and borrowing costs as it does not pay benefit. For this week’s data, traders will monitor a set of important economic indicators, from employment to inflation and economic activity, to understand how federal officials will determine their position before the meeting in September, as a decision is expected to reduce interest. Trump’s customs agenda and fear of the outbreak of a global trade war has been one of the basic engines for gold with more than 25%, as well as geopolitical tensions since the beginning of the year, as well as geopolitical tensions that strengthened the demand for safe havens. However, market traders show increasing resistance to the development of customs negotiations, even with the approaching deadline set by the US President on August 1. The recent signs of progress in the talks between Washington and Beijing have failed to stimulate the appetite for risk. The immediate gold price rose 0.1% to $ 3,330,13 per gram at 8:17 in the morning Singapore time, while the ‘Bloomberg Instant Dollar’ index remained unchanged after rising 1.4% during the previous four sessions. Silver and platinum did not see small changes, while Redemium rose.