Dealers anticipate a half-point hike in December, even though the Federal Reserve is expected to announce another 75 basis point increase in interest rates at its meeting next week.
Price changes
Gold prices did not witness a significant change in instant transactions, and reached 1663. 62 dollars an ounce by 05:21 GMT, while US gold futures increased by 0. 1 percent to $ 1666. 30.
According to Matt Simson, an analyst at City Endex, the weak dollar has assisted gold in avoiding its lowest points, but this is not yet cause for overly optimistic thinking about gold.
The sharp lifting by the US Central Bank of interest rates since March led to a decrease in gold by about 9 percent this year, because it increased the cost of an alternative opportunity to possess the precious metal that does not generate return, while strengthening the dollar at the same time.
In quick transactions for other precious metals, the price of silver dropped 0.7% to $ 19.44 for an ounce.
Platinum increased by more than 2 percent during the week to close at $ 960.13.
Palladium climbed by 0.3% to 1946.63 dollars, although it is on track to have a weekly fall of above 3%.
Investors’ anticipation of the direction of federal initiatives causes gold prices to stabilise.
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