Gold has fell in anticipation of interest rates raising by the FRS
During the morning session on Tuesday the gold price has dropped due to the US dollar appreciation. This situation reflects investors ‘ expectations about the interest rates increase because the FRS representatives lately has repeatedly said about it. The market players hope that they will be able to get some clues about the time when the USA Federal reserve service plans to increase the interest rates. But while their hopes were not justified.
As a result, gold futures fell by 0.4%, or 4,95$ per Troy ounce. At the same time the US dollar index rose by 0.35 percent against a trade-weighted basket of six major currencies and reached 101,27, which close to the monthly minimum 101,75.