Gold prices showed stability on July 13 morning after the publication of macroeconomic statistics in the US, Report informs referring to the auction data.
The price of the August futures for gold on the New York Comex exchange decreased by $0.8 (0.04%), to $1,960.95 per troy ounce. September silver futures rose 0.41% to $24.410 an ounce.
A day earlier, inflation statistics in the US were published, which affected the value of the US currency and, accordingly, the price of gold. Traditionally, monetary easing has held back the dollar and supported the value of gold. Annual inflation in the country in June slowed down to 3% from 4% a month earlier, although experts expected a slowdown to only 3.1%.
On July 12, the dollar index (the exchange rate against a basket of currencies of six US trading partners) fell by 1.21% to 100.5 points, against which the price of gold increased by 1.27% to $1,961.70 per troy ounce.
The depreciation of the dollar makes gold more affordable to buy in another currency and vice versa. At the same time, on July 13, the dollar exchange rate stabilized, against which the cost of the precious metal stabilized, too. Thus, the index fell by 0.03% to 100.49 points.