Gold prices fall slightly

Gold prices declined slightly on May 16 morning, Report informs referring to the auction data.

The price of June gold futures on the New York Comex exchange fell by $1.75 (0.09%) to $2,020.9 per troy ounce. July silver futures fell 0.49% to $24.172 an ounce.

Markets continue to assess the situation around the US government debt. Earlier, US President Joe Biden said he was upbeat on prospects for reaching an agreement on raising the country’s debt ceiling and plans to discuss this issue with congressional leaders on May 16.

Data on industrial production in the US will be released later on May 16. According to analysts’ forecasts, the indicator in April didn’t change from the previous month. In March, the volume of industrial production in the US increased by 0.4% compared to February.