Gold prices fall

Gold prices fell slightly on August 8 morning amid the appreciation of the dollar, Report informs referring to the auction data.

The price of December futures for gold on the New York Comex exchange fell by $2.15 (0.11%) to $1,967.9 per troy ounce. September silver futures fell 0.02% to $23.227 an ounce.

The dollar index (the exchange rate against a basket of currencies of six US trading partners) rose by 0.23% to 102.28 points. A stronger dollar makes gold less affordable when buying the precious metal in another currency, and vice versa.

Markets are waiting for US inflation statistics for July, which will be published on August 10 afternoon. Analysts believe that annual inflation accelerated to 3.3% last month from 3% in June. The indicator may remain above the target level of the Federal Reserve System (Fed) of 2%.