Gold prices on August 10 morning almost didn’t change in anticipation of inflation data in the US, Report informs referring to the auction data.
The price of December futures for gold on the New York Comex exchange fell by $1.25 (0.06%) to $1,949.35 per troy ounce. September silver futures fell 0.11% to $22.707 an ounce.
Investors are waiting for the release of macroeconomic statistics in the US. Analysts suggest that annual inflation in the country accelerated to 3.3% in July from 3% a month earlier.
Such data, among other things, can give clues about the future actions of the US Federal Reserve System (FRS) in relation to the monetary policy in the country, which, in turn, affects the dollar exchange rate and the yield of US government debt. These factors also affect the gold market, which also acts as an alternative market for safe-haven financial assets.