Gold prices are rising in anticipation of the US statistics

On Wednesday morning, the price of gold started to rise after yesterday's decline to the level of $1,782 per ounce. The current quote of the precious metal is $1.795. 

The asset is growing in anticipation of the release of economic statistics from the United States, as well as the publication of the minutes of the last meeting of the Federal Reserve System.

In particular, data on US GDP in the last quarter will be published in the evening. Analysts expect that the US economy grew from 2% to 2.2% during this period. In addition, statistics on the number of applications for unemployment benefits in the United States over the past week will become known. The indicator is expected to decrease to 260 thousand. 

Also today, the indicators of income and expenses of Americans in October, data on sales of new homes in the United States, as well as the final assessment of the consumer sentiment index of the University of Michigan this month will be presented.

In addition to the data in the framework of the economic calendar, traders should pay attention to the evening publication of the minutes of the US Federal Reserve meeting. Market participants expect to receive information about the future plans of the regulator: in particular, about the timing of an increase in the refinancing rate and the possible acceleration of the curtailment of the program for the purchase of financial assets from the market.