Since the end of November of the current 2019, the price of gold has practically not moved. But this week there will be events that may possibly become drivers for further growth in the price of yellow precious metals.

Today, the precious metal was trading at around $ 1,465 an ounce (1,321 euros). It turns out that since the end of November, the cost of gold has not changed. The fact that, even with positive market data in the USA, the price of gold did not continue to decline, indicates a strong position in the precious metal.

From this year’s annual high of $ 1,560 per ounce, reached in September, the price fell by only -6%. How will pricing take place in the coming months? Will the precious metal be able to repeat its record before the end of the year, or is it worth counting on continued consolidation?

The answer to these questions may be known already this week. The fact is that a meeting of the US Federal Reserve will take place today. The probability of interest rate reduction is only 2.2%. Any change in rates following the meeting will be a big surprise for experts. Also today, official data on inflation in the United States will be published.

On Thursday, the ECB will hold a press conference after a two-day meeting. The new head of the ECB, Christina Lagarde, will be the first to answer questions from journalists during a press conference. In this post, she replaced Mario Draghi. Analysts of the precious metals market are looking forward to her speech in order to understand in which direction she will pursue the ECB policy.

The trade conflict between the US and China remains at the center of attention of all financial markets. Everyone is waiting for positive changes. Representatives of the PRC expressed hope for the early signing of an interim agreement. These words were spoken against the possible entry into force on December 15 of US customs duties on Chinese goods in the amount of $ 156 billion. China hopes Trump to reverse his decision to pave the way for further negotiations.