Gold, silver prices increase slightly

Gold prices rose slightly on September 28 morning after falling the previous day, Report informs referring to trading data.

The price of December gold futures on the New York Comex exchange rose by 0.07% to $1,892.25 per troy ounce. December silver futures rose 0.03% to $22.73 an ounce.

Gold prices decreased 1.5% on September 27, falling below $1,900 for the first time since March, amid a stronger dollar and expectations of a high Fed base rate. Since the beginning of the week, the American currency index (rate to a basket of currencies of six US trading partner countries) has exceeded the psychological mark of 106 points; the day before, the figure exceeded 106.8 points. A rising dollar makes gold less available for purchase in other currencies.

Traders remain concerned that the Fed may keep its base rate high for a long time as it fights inflation. Traditionally, tight monetary policy has supported the dollar and held back gold.