Gold rises in price on expectations of Fed’s rate hike

Gold yesterday demonstrated positive dynamics for the second trading session in a row - by the evening it added 0.14%, rising to $1819 per troy ounce. Concerns over the Fed's future policy were the main growth driver, while the correction after two days of decline last week pushed quotations up. Market participants are getting ready for the U.S. regulator to raise the prime rate soon. According to CME Group, an overwhelming majority of analysts - about 97% - believe that the Fed will make the decision at the next meeting scheduled for March. 91% expect a rate hike to 0.25% to 0.5%. This week, investors' attention is fixed on such events as the announcement of the European Central Bank meeting minutes, the EU finance ministers' meeting on corporate tax, the release of eurozone inflation data for December, and the release of data on the manufacturing activity index, leading economic indicators and the secondary housing market in the USA.