Gold prices rise slightly

Gold prices rose slightly due to the decline in the dollar index, Report informs referring to the auction data.

The price of June gold futures on the New York Comex rose by $1.14, or 0.06%, to $1,876.89 per troy ounce. July futures for silver rose 0.16% to $22.493 an ounce.

Precious metal market on May 6 morning saw a weak dynamics due to a number of multidirectional factors. On the one hand, the value of gold is supported by the dollar index (the exchange rate against a basket of six currencies of US trading partners), which is reduced by 0.06% to 103.69 points.

On the other hand, the demand for a safe-haven asset is declining, as the US Federal Reserve System (FRS) hiked the discount rate to curb inflationary pressure and strengthen the national currency.