On the world market, the gold trading price on the Kitco floor ended the last trading session at 1,924 USD/ounce.
The direction of gold will be more clearly determined this week after the US Federal Reserve (Fed) decides on monetary policy at its meeting on September 20-21 (US time). According to professional forecasts, it is likely that the Fed will not raise interest rates, but will still maintain the current high level.
According to the CME FedWatchTool, the 60% interest rate remains unchanged between now and the end of the year.
Edward Moya, senior market analyst at OANDA, said Chinese banks have a general message that the interest rate cycle is about to end. That creates more appeal.
Although it still seems not ready for a breakthrough, the peaceful moves of central banks continue to support gold prices.
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