Following comments of a member of the Board of Governors of the Federal Reserve System, the probability that next week the decision will be taken to increase rates has dropped to 15%. Considering the low inflation rate and still not entirely satisfactory situation in the labor market and consumer spending in the USA, she urged the Fed to exercise greater caution in the future conducting monetary policy. In the short term, a reduction in the probability of a rate increase could support gold prices. However, we believe that optimism showed at the momentby financial investors, is exaggerated, and, therefore, in the near future, we expect to see a price adjustment.
Source: Uncommercial joint ownership "Trans-regional Association of precious metals producers"