Gold prices fall

While the results of the two-day meeting of the US Federal Reserve System (FES) are expected to be announced, the gold prices fell slightly, Report informs.

The price of August futures of gold on the New York Comex exchange fell by $5.4, or 0.31%, to $1,722 per troy ounce. September silver futures fell 0.99% to $18.433 an ounce.

FES's decision will be announced on Wednesday. Analysts believe the discount rate will increase by 75 basis points to 2.25-2.5% at the meeting.

The tightening of monetary policy in the US is positive for the dollar. Analysts believe that in July, the price of gold will develop in the opposite dynamics to the exchange rate of the US dollar.