Gold prices decreased on April 19 morning after exceeding $2,000 per troy ounce a day earlier, Report informs referring to the auction data.
The price of June futures for gold on the New York Comex exchange fell by $9.4, or 0.47%, to $1,977.1 per troy ounce. May futures for silver fell 0.61% to $25.988 an ounce.
Gold is falling in price on April 19 morning after the price of the precious metal exceeded $2,000 a troy ounce on April 18 for the first time since March 11. This rally was fueled by fears of record inflation in the US since 1981.
In addition, a rally in the foreign exchange market contributes to a decrease in the price of precious metals. Thus, the dollar index (the exchange rate against a basket of six currencies of US trading partners) is growing by 0.17%, to 100.96 points. A more expensive dollar makes gold less worth buying.