Gold with a six-week high yesterday, tested $1,300

The price of gold has fallen today, albeit keeping close to its highest level in six weeks since yesterday's session. This happened after Powell initiated a further raise in interest rates before the Trump Senate Tax Reform vote.
The spot price of gold lost 0.1% of its value to a level of $1,293 per ounce. Yesterday, gold reached a momentum of $1,299 per ounce, or the highest level since October 16.
According to political analysts, North Korea may be preparing to launch new ballistic missiles soon. Such actions would have a positive impact on the price of gold.
Gold is also very sensitive to the interest rates and the US Dollar exchange rate. Traditionally, it is cheaper when the dollar strengthens, or more aggressive on interest rises.
Speculators have lowered their long positions in gold and silver futures in the week to November 21.