Gold continues recovery ahead of US interest rate decision

Gold continues yesterday’s rally from the Friday reset. At a high, the precious metal has so far traded at $ 1,465.12 per troy ounce.

The focus for trading in gold is the two-day central bank meeting of the Federal Reserve Bank (Fed), which begins today. The key interest rate decision on Wednesday evening is generally expected to remain unchanged. Attention is therefore particularly focused on the comments of the Fed on the interest rate outlook for the coming year.

Attention continues to be paid to negotiations between the US and China on a first partial trade agreement. On 15 December, new tariffs on Chinese imports worth $ 160 billion could come into effect, including toys and smartphones, if no agreement has been reached by then. However, US Secretary of Agriculture Sonny Perdue does not assume. “We have a deadline of 15 December for further duties. However, I do not think they will be implemented, and I think we may see some backsliding, “said Perdue..