Gold prices rise ahead of US Fed’s decision

Gold prices showed stability on October 27 morning, as investors are in anticipation of action from the US Federal Reserve System (FRS).

The price of December futures for gold on the New York Comex exchange rose by $3.25, or 0.2%, to $1,672.35 per troy ounce. December silver futures rose 0.59% to $19,600 an ounce.

On October 27 morning, gold prices generally didn’t change, remaining at the level of a two-week peak reached on October 26.

Traders are still waiting for the next action from the Fed. According to the CME Group, 90.7% of experts predict that in November the Fed will again raise the discount rate by 0.75 percentage points, to 3.75-4% per annum. These forecasts do not change, giving no reason for any additional movements in the precious metal market, which is sensitive to US monetary policy.

At the same time, the yield of ten-year government bonds (US Treasuries), which also affect the price of gold, is also generally stable. Now this yield is slightly reduced - to 4.011% from the level of the last close of 4.015%.

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