Gold price is rising in anticipation of a slowdown in the US interest rate growth

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Investors expect the United States Fed to announce a slowdown in rate growth this week. Against the background of this news, gold prices are rising. The price of the February futures rose by $3.35 or 0.26% and exceeded $1,300 per ounce. March futures for silver went up by 0.05% to $15.71 per ounce. US Federal Reserve will hold the first meeting on January 29-30. Experts predict that the interest rate will remain at 2.25-2.5%. Traders are waiting for an answer whether there will be a relaxation of tight monetary policy against the background of slow growth of the world economy. Market Watch Agency believes that problems in the global economy will force the Fed to keep the rate at the current level. Gold prices will rise in this case. Mitigation of US monetary policy affects the dollar, and that in turn affects the price of the precious metal. A cheap dollar makes gold more attractive to holders of other currencies.

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