GOLD calmly expected meeting of FED

09.09.2015 / 05:20

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Gold prices gain in Asia as investors were cautious ahead of the Fed meeting next week

On the Comex gold for December delivery rose 0.09% to $ 1,122 an ounce

Silver for December delivery gained 0.30% to $ 14.80 an ounce.

Copper for December delivery rose 0.10% to $ 2.434 per pound.

China is the world's largest gold producer and second largest consumer of the precious metal, which is possible due to downward movement of the precious metal as a result of the crisis in the Chinese economy.

For the most part, gold traders are willing to fulfill any big deals before a two-day meeting of the Fed in September 17 to 18. Analysts say chances are 50-50 to increase the basic interest rate. Forecasts for significant change in the gold price from current levels over the next few days is also 50-50.

Jr Trader E. Dimitrov

Varchev Traders

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GOLD calmly expected meeting of FED

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