Golden edges lower as dollar companies, but the unrest limits the losses

Gold prices fell lower on Wednesday, put under pressure due to an increase in the dollar, although renewed concern about the independence of the US central bank after the threat of President Donald Trump to dismiss the Governor of the Federal Reserve Lisa Cook, Stul supported.

Fundamentals

* Spotgoud fell by 0.2% at $ 3,386.19 per ounce, from 0118 GMT, after its highest level since August 11 on Tuesday.
* US Gold Futures For the delivery of December, 0.1% higher up to $ 3,435.70.
* The dollar index rose by 0.1% against its rivals, making gold less attractive for other currency holders.
* Trump said that he removed cook about alleged inaccuracies in obtaining mortgage loans, a step that could test the limits of presidential power over the American Fed.
* In response, Cook said that Trump has no authority to dismiss her from the central bank, and that she will not resign.
* Trump has pushed the American central bank to lower the rates and repeatedly criticized chairman Jerome Powell because he acted too slowly.

* Last week Powell gave a possible rate reduction at the FED meeting next month, stating increasing risks for the American labor market.
* Markets now praise in a chance of 87% of a quarter -point reduction during the policy meeting of the FED on 17 September, according to CME Fedwatch Tool.
* Non-return gold usually performs well in an environment with a low interest rate.
* Focus is now shifting to the price index of the personal consumption expenditure, the preferred factories of the FED, which is looking for more instructions for the US cutting trajectory on Friday.
* SPDR Gold Trust, the world’s largest stock market -built fund, said that his interests rose by 0.15% on Tuesday to 959.92 tons from 958.49 tons on Monday.
* Elsewhere, Spot Silver was flat at $ 38.59 per ounce, Platinum won 0.3% to $ 1.353.11 and Palladium climbed 0.8% to $ 1.102.50.