The price of gold on Wednesday morning is stable again after a noticeable increase in the afternoon the day before and breaking the mark of $1,800 per troy ounce, Report informs.
The price of February futures for gold on the New York Comex has reduced by $1.45, or 0.08%, to $1,823.95 per troy ounce. March silver futures fell 0.44% to $24.165 an ounce.
On Tuesday morning, gold was stable in price, but then rose by the end of the trading session by 1.5%, from less than $1,800 to about $1,825 a troy ounce.
This was facilitated, in particular, by the weakening of the US dollar against other major world currencies. So, in the evening, the value of the US currency dropped against the euro, after the release of data on a decrease in the number of new homes in the country, the construction of which was started in November. And against the yen, the decline in the dollar reached almost 4% on Tuesday, due to a sharp strengthening of the Japanese currency after the country's central bank announced that it was expanding the range of fluctuations for the ten-year government bond yield curve.
A cheaper dollar makes gold more accessible to investors who own other currencies.
Traders' attention is also drawn to US GDP statistics, which will be published on Thursday. Experts believe that the final estimate of the country's economic growth will remain at the level of 2.9% for the last quarter in annual terms (if GDP grew at the same pace for four consecutive quarters).