Against the backdrop of positive signals from negotiations between the United States and China, the world price of gold again fell below $ 1,500 per ounce. What will be the situation in the gold market in the future?

Over the past few weeks, the yellow precious metal has been trading near the $ 1,500 level. The gold market was influenced by the situation around the trade conflict between the United States and China. As both sides of the conflict declare, there is a gradual rapprochement and understanding on the main points, but in fact it is still unclear when the long-awaited signing of the final trade agreement will occur.

At the very least, financial markets would like to see the conclusion of at least a transitional agreement in order to relieve tension. Appealing allegations have again come from China that customs duties on goods from the United States will decline gradually.

Recent statistics on the US economy turned out to be quite positive, primarily on the index of business activity in the services sector. Therefore, analysts believe that this year the Fed will no longer reduce interest rates. The next meeting of the Federal Reserve will be held on December 10-11, 2019.

On Thursday November 7, the price of gold was trading at around $ 1,485 per ounce (1,341 euros). The cost of silver amounted to 17.58 dollars per ounce (15.87 euros).