Gold prices fall slightly amid strengthening dollar

Gold prices fell slightly on September 7 morning, as the appreciation of the dollar on strong macro statistics from the US is holding back the price of the precious metal, Report informs referring to the auction data.

The price of December futures for gold on the New York Comex exchange fell by $1.9 (0.1%) to $1,942.3 per troy ounce. December silver futures fell 0.43% to $23.402 an ounce.

A day earlier, it came out that the index of business activity in the US services sector (Services ISM) unexpectedly rose in August to 54.5% from 52.7% in July, while experts expected the index to decline to 52.5%.

As a result, on September 6, the dollar index (the exchange rate against a basket of currencies of six US trading partner countries) exceeded 105 points for the first time since March 15, while on September 7 it slightly adjusted to a level of 104.9 points. The appreciation of the dollar makes gold less available to buy in other currencies.