Gold stable on expections of Fed's decision

Gold prices were stable on October 25 morning, while the markets are waiting for the next action from the US Federal Reserve (Fed), Report informs referring to the auction data.

The price of December futures for gold on the New York Comex rose by $0.45, or 0.03%, to $1,654.55 per troy ounce. December silver futures rose 0.3% to $19.247 an ounce.

According to the CME Group, 97.2% of experts expect the Fed will again raise the discount rate by 0.75 percentage points, to 3.75-4% per annum.

At the same time, the dollar exchange rate against other major currencies is changing little ahead of Fed's decision. The dollar index (the exchange rate against a basket of currencies of six US trading partners) fell by 0.06% to 111.92 points. The cheaper the dollar, the more accessible gold becomes for buying in another currency, and vice versa.