Gold prices fall amid dollar strengthening after statistics on inflation in US

Gold prices fell on February 15 morning, Report informs referring to the auction data.

At the same time, the dollar rises in price against world currencies after data on a weaker-than-expected slowdown in inflation in the US.

The price of April gold futures on the New York Comex exchange fell by $7.2, or 0.39%, to $1,858.2 per troy ounce. March silver futures fell 0.58% to $21.747 an ounce.

The dollar index (the exchange rate against a basket of currencies of six US trading partners) rose by 0.16% to 103.4 points. A stronger dollar puts pressure on gold quotes, making it less available to buy in other currencies.

Annual inflation in the US in January slowed down to 6.4% from 6.5% a month earlier. Analysts had forecast the figure at 6.2%. On a monthly basis, consumer prices rose 0.5% in January.

Inflation in the US has remained above the 2% target for nearly two years. Data on a weaker slowdown in inflation in January supported expectations that the US Federal Reserve (Fed) may keep high rates longer than markets expected.

Such signals are positive for the dollar. This, in turn, affects gold quotes.