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The market of gold, platinum and silver is getting cheaper after the publication of the Fed’s protocol

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The market of gold, platinum and silver is getting cheaper after the publication of the Fed’s protocol
May 23
09:00 2018

The value of gold is going down on Wednesday after the protocol publication of the Federal Reserve System. President Trump reported on rather unsuccessful trade negotiations with China that could mess up the plan to hold the expected summit with the DPRK. In particular, the American leader said that the meeting with North Korean leader Kim Jong Un was likely to be postponed to a later date. Meanwhile, sanctions against Iran will be tightened.

After the publication of the minutes of the US Federal Reserve meeting:

– The value of the gold metal GCM8 fell by $ 2.40 and reached $ 1,295 per ounce. It is expected that there will not be a significant growth in the gold market in the near future;

– The price of platinum fell to $ 899, then there was a correction to the level of $ 909 an ounce of the precious metal;

– the value of silver went down to the level of 16.36 US dollars, but after several hours it recovered its position by 0.21 US dollars, reaching the mark of 16.57 US dollars.

According to the Forex market analyst Fawad Razagzada, the slowdown in the growth of the US currency must be a necessary condition for the return of the gold value in the price range of 1200 – 1300 US dollars.

The economic data published today are quite optimistic. Based on the given figures, it can be stated that the production activity of the United States of America is gradually increasing.

US President Donald Trump is not satisfied with the latest round of the trade talks with China. Earlier in the week, tensions between the two largest economies of the world stimulated the sale of stocks and bonds in the world’s largest financial markets.

 

The material was prepared with the participation of Katya Gordon,
a leading analyst of the brokerage company CT Trade

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