Gold prices fall ahead of US Fed meeting

Gold prices on March 15 morning decreased by more than 1% in anticipation of the results of the US Fed’s meeting, Report informs referring to the auction data.

April gold futures on the New York Comex dropped $30.05, or 1.53%, to $1,930.75 a troy ounce. May silver futures fell 1.57% to $24.895 an ounce.

One of the main economic events of the coming days will be the results of the Fed meeting, which is expected to be published on March 16. Most analysts believe that the regulator will raise the discount rate, which will be positive for the dollar and negative for gold.

“While the direction of prices in the coming months should be largely determined by the Ukrainian crisis, the normalization of the Fed’s monetary policy, the strengthening of the dollar and the restoration of bond yields could put pressure on the precious metal,” experts explain.