Forex forecast rate of gold today

Forex. The forecast rate of gold today

Quotes of gold reached another monthly high of 1259 dollars per ounce on Monday.

The price of gold is completely correlated with investors’ expectations on the eve of the Fed meeting. After inflation fell for the fourth consecutive month, the likelihood of another rate hike by the market‘s judgment fell.

Almost certainly will not happen increase in September, the Fed would consider such a possibility is not earlier than December. However, most experts believe that the Fed will not soften their language in the environment contrary to fears of low inflation.

Another key indicator for the dollar, and, respectively, and for gold, will be the publication of the first estimate of GDP growth in the US in the second quarter of this year. Earlier, representatives of the Federal Reserve exudes confidence in the economic recovery after the recession in the first quarter, however, the negative performance of recent months does not allow to count on a good growth rate.

In our today’s forecast assumes further growth of quotations of gold to the level of resistance 1258, 1261 and US $ 1265 per troy ounce.

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