Gold prices fell slightly on April 4 morning, trading around $1,997 per troy ounce, Report informs referring to the auction data.
The strengthening of the dollar is putting some pressure on the prices, while the underlying factors continue to serve as support for it.
The price of June gold futures on the New York Comex exchange fell by $3.15, or 0.16%, to $1,997.25 per troy ounce. May futures for silver rose 0.12% to $24.05 an ounce.
The dollar index (the exchange rate against a basket of currencies of six US trading partners) rose by 0.07% to 102.17 points. At the same time, the dollar rose by 0.23% against the yen. The appreciation of the US currency makes gold less available for purchase in other currencies.
At the same time, the underlying factors that support the demand for gold remain in the markets. These include risks of a recession in the global economy, as well as the monetary policy of the US Federal Reserve System (FRS).