Gold is
trading near 3 months high ahead of FOMC meeting
May
18, 2015
The Gold
recovered significantly, while the U.S Dollar dropped sharply in early Asian
trading on Monday. After the release of disappointing U.S economic data
concerning the industrial production and the consumer sentiment index. Which
have raised speculations that the U.S Federal Reserve will not hike its interest
rates soon. While it increased the demand for the yellow metal as a safe-haven
asset, and the gold prices have recovered above $1220 per ounce. On the other
hand, the Investors are awaiting the Fed monetary policy meeting for the month
of April due on Wednesday 20th of May to search for more clues about
the U.S economy and when the central bank could raise
rates.
