Gold is in charge. What do experts say about prices growth?
The upcoming elections in the US and the Federal Reserve could be sending gold prices' soaring pretty soon. Today's analysis on gold prices covers the period of the week from September 21st to 28th.
What do experts find particular about this week?
The Federal Reserve holds the reins
On 21st September, gold prices showed a subtle growth (1,313 $/oz) on the background of a weakened dollar. However, this increase was suppressed by the Fed's decision to announce what would happen to the interest rates during that evening.
The following day, once the Fed decided not to change the interest rates and considered only their raising by the end of this year, gold prices rose to 1,340 dollars per ounce. The experts from the American University Election Experts agree that the results of the presidential elections in the US will determine further monetary policies. The candidates have already announced opposing development plans, which will mostly influence the overall US system of taxation and the wealthy.
Setback after the weekend
On 23rd September, gold prices were still on the rise due to the Fed’s decision. However, on 26th September, gold prices suffered a slight setback to 1325 $/oz. The EFT-funds' gold reserves have risen on the other hand, but this growth was been subtle too. Nevertheless, investors seem to be still interested in gold, as reported by the experts of Sunshine Profits, Gold Investment & Silver Investment.
Despite small fluctuations, gold prices ended up at 1,324 $/oz after a minor decrease to 1,319 dollars per ounce in the afternoon of September 28th.
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