The Fed raised interest rates in December and at that time signaled by three hikes in 2017 as Trump took over the government
with promises to boost growth through tax cuts, spending and deregulation.
Higher interest rates could mean the US currency higher,
which makes dollar-denominated gold more expensive for holders of other currencies, potentially reducing demand.
Equity World | Gold Prices Rise
Negative for gold could trigger the actions of speculators cut their net long positions in the futures market,
after two consecutive weeks of increases, according to data from the CFTC,
which also showed them improve their silver holdings to the highest since early November.
Spot silver was up slightly at $ 17.08 per ounce and palladium rose 0.11 percent to $ 736.80 per ounce. Platinum rose 0.19 percent to $ 985.50.
Analyst estimates that the gold price may rise if the dollar weakness continues. Gold prices are expected to move in Resistance range $ 1.196 – $ 1.198, and if the price drops will move in a range Support $ 1.192 – $ 1.190.
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