| European single currency rose against the U.S. dollar in trading yesterday as reports showed the eurozone 's manufacturing sector continued to grow at the fastest rate in the past 31 months . PMI manufacturing of euro zone published by Markit rose from 51.6 points to 52.7 points in November , higher than the median forecast of 51.9 points and is the highest level since May 5/2011 . Germany 's manufacturing sector , a leading economic region maintain strong growth momentum with manufacturing PMI rose from 52.7 points to 54.2 points , higher than the 53.1 median forecast of analysts . |
Although the service sector has slowed in December . However, the eurozone composite PMI maintained at 52.1 points , the highest since May 5/2011 .
GOLD PRICE moving sideways FED MEETING RESULTS
Gold price volatility in the trading session yesterday , but ended the day , gold prices rose only slightly over the closing price of the last trading week as investors still appeared hesitant in identifying the direction of the price gold results ahead of Fed policy meeting released tomorrow .
The recent rapid improvement in the U.S. labor market as the Fed increases the ability to decide to cut stimulus program in this session . However, most market observers expect the Fed to continue to maintain a QE3 package worth $ 85 billion per month .
Gold prices are forecast can continue walking until the Fed announcement of future quantitative easing program , factors to be considered the most important impact on the direction of gold prices in the near future.
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