Gold rises slightly ahead of US Fed meeting

Gold prices rose slightly, trading at $1,680 per troy ounce. Growth was affected by some weakening of the dollar before the meeting of the US Federal Reserve System (FRS), Report informs referring to the auction data.

The price of December futures for gold on the New York Comex exchange rose by $2.6, or 0.15%, to $1,680.8 per troy ounce. December silver futures rose 0.65% to $19.483 an ounce.

The dollar index (the exchange rate against a basket of currencies of six countries - US trading partners) fell by 0.09% to 109.64 points. The weakening dollar makes gold more affordable to buy in other currencies.

In general, markets are cautious ahead of the Fed meeting, which will be held on September 20-21. As a result, the regulator will announce a decision on the rate. According to CME Group, 82% of analysts expect a 75-basis point hike on September 21, to 3-3.25% per annum.