Gold prices fall amid strengthening dollar

Gold dropped on the strengthening US dollar on February 8 morning, Report informs.

The April futures for the precious metal fell by $1.6, or 0.09%, to $1,820.15 per troy ounce on the New York Comex stock exchange. March silver futures lost 0.94%, settling at $22.858 an ounce.

Gold prices are pushed down by the strengthening US dollar, with its index (the exchange rate against a basket of currencies of six countries - the main trading partners of the US) growing by 0.19%, to 95.58 points. A more expensive dollar makes gold less attractive for buyers.

The January statistics on inflation in the United States will be published on Thursday, with experts expecting the country's annual inflation to speed up to 7.3% from 7% in December. This level of price growth could be a record since February 1982. At the same time, in the event of higher inflation, gold becomes an asset-safe haven, profitable to buy.