Gold is growing in anticipation of the US Federal Reserve meeting

The price of gold is rising on Monday, reaching $1.797 per ounce. Investors are waiting for the results of the two-day meeting of the US Federal Reserve System (FRS).

The meeting of the regulator is scheduled for November 2-3. Markets expect that the Central Bank will announce the beginning of the curtailment of the asset repurchase program, and next year it may raise the key rate. 

The Fed's decisions will be largely determined by the latest US economic indicators. In particular, the US GDP in the third quarter, according to the first estimate, grew by only 2% year-on-year (if GDP had grown at the same pace for four consecutive quarters) after growing by 6.7% a quarter earlier. Analysts' forecast suggested growth of 2.7%. 

Moreover, in October, the Ministry of Labor of the country reported that annual inflation in September returned to July highs and reached 5.4%. At the same time, traders assume that gold will receive support due to concerns about inflation even after the Fed starts raising rates, because higher rates will have little effect on supply disruptions.