Gold prices fall ahead of US Fed meeting

Gold prices on January 21 morning declined slightly in anticipation of a meeting of the US Federal Reserve next week, Report informs referring to the auction data.

The price of February futures for gold on the New York Comex exchange fell by 0.2%, or by $0.5, to $1,842.05 per troy ounce. March silver futures fell 0.6% to $24.562 an ounce.

The attention of traders is shifting to the Fed meeting, scheduled for January 25-26. Most analysts expect the base rate to increase in March.

The tightening of the Fed’s monetary policy may strengthen the US dollar, which will negatively affect gold prices.