Gold prices fall slightly after release of statistics from US

Gold prices on September 14 morning fell to the level of $1,715 per troy ounce, Report informs referring to the auction data.

The price of December futures for gold on the New York Comex exchange fell by $3.2, or 0.19%, to $1,714.2 per troy ounce. December silver futures fell 0.84% ​​to $19.328 an ounce.

On September 13, the price of gold fell by 1.3% against the background of the strengthening of the dollar against world currencies by 1.5%, which followed the publication of data on inflation in the US. A stronger dollar makes gold less available to buy in other currencies.

Annual price growth in the country in August amounted to 8.3% against the forecast of 8.1%. Inflation slowed down from 8.5% in July, but with the value higher than expected and remaining well above the 2% target, markets began to expect more hawkish sentiment from the US Federal Reserve.

The US central bank will hold another two-day meeting next week, following which the regulator will make a decision on the rate. After the publication of statistics, analysts began to set a rate increase by 100 basis points. According to CME Group, 36% of analysts admit such a possibility, the remaining 64% continue to expect an increase of 75 basis points from the current level of 2.25-2.5%.

Gold is sensitive to signals from the Fed and US macro statistics, as these factors affect the dollar.