According to experts, in December, the situation on the gold market, as a rule, is not in the best way, but the end of this year may be an exception.
After reaching the minimum value in August of this year (at the level of $ 1,180 per 1 ounce), the cost of the precious metal began to grow gradually, even despite the strengthening of the American currency.
Meanwhile, over the past few weeks, the gold exchange rate has been under pressure. Despite the fact that there were more than enough reasons for the decline, the price managed to gain a foothold at the level above $ 1225 per 1 ounce.
Today, the precious metal traded near annual highs for the first time since July.
Strengthening the position of gold occurs against the background of increasing tensions in the world. However, indulge in euphoria is still not worth it.
In the near future, the determining factor for the precious metal rate will be the decision of the US Federal Reserve regarding its monetary policy, which the regulator will take at the end of the next meeting scheduled for December 19.
If the fact that next week the Fed will raise the interest rate is no longer in doubt, then the prospects for further tightening of monetary policy are still in question.
It is assumed that in the event of a slowdown in the rate of increase in the rate of gold will receive an excellent chance to continue growth.
The material has been provided by InstaForex Company -
www.instaforex.com