Gold prices in the European market settled on Tuesday within a limited range around the level of $ 1,200 per ounce, with investors reluctant to build new centers, ahead of the start of the Federal Reserve meeting, which is expected to see a rise in US interest rates for the third time this year.

Gold prices are trading at around 10:35 GMT at $ 1,200.17 per ounce from the opening level of $ 1,198.41 and the highest at $ 1,200.82 and $ 1,197.09.

The yellow metal ended yesterday’s trading lower by less than 0.1%, the second consecutive daily loss, as the US currency rebounded against a basket of global currencies.

Over the past week, gold prices rose 0.4% in the first weekly gain in a month, supported by the rise of most of the resistance metal prices in US dollars.

Federal Reserve is set to begin its policy meeting on Wednesday to discuss monetary policy appropriate to the path of growth of the US economy, to be issued on Wednesday, amid strong prospects for raising US interest rates for the third time this year.

The probability is now 100% that US interest rates will rise by a quarter percentage point to 2.25%, especially after the US economy grew during the second quarter of this year, the fastest pace in the last four years, with the labor market robust and rising wages.

Investors, through the Federal Reserve’s monetary policy statement, the Federal Economic Outlook and Jerome Powell’s comments, are looking for new evidence for the possibility of raising interest rates for the fourth time at the December meeting.

Gold holdings in the SPDR Gold Trust Fund remained unchanged for the fourth day in a row, remaining at 742.23 metric tons, the lowest since February 19, 2016.