Gold Weakens In Asian Trading
SGT Markets | Sep 21, 2017 06:53AM ET
The price of gold was considerably weakened during Asian trading. US Federal Reserve announced last night that they would keep the overnight interest rate at an existing level of 1.25%, but it was left the chance to make another increase during this year. Also, Federal Reserve announced that in October of this year the reduction of the balance sheet of this institution will begin. As a reaction, the US currency has strongly strengthened, while secure investments such as gold declined significantly. Today, at 14:30 in the United States, information will be released on the number of applications to help new unemployed persons, while at the same time publishing the Philadelphia Sector Processing Index, which may additionally affect the price of gold. During Asian trading, the price of gold declined by 1.15%.
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