Gold prices fall amid appreciation of US dollar

Gold prices fell on June 17 morning amid the appreciation of the US dollar against world currencies, as well as after the growth in value on June 16, reported from the auction data.

The price of August gold futures on the New York Comex exchange fell by $3.6, or 0.19%, to $1,846.3 per troy ounce. July silver futures fell 0.19% to $21.843 an ounce.

The dollar index (the exchange rate against a basket of currencies of six countries - US trading partners) is growing by 0.58%, to 104.24 points. The appreciation of the US currency, as a rule, restrains the demand for gold, which in this case becomes less available when buying in another currency.

At the same time, the price of gold was above $1,840 per ounce after rising 1.7% on June 16. The precious metal received support after the meeting of the US Federal Reserve System (FRS), following which the regulator raised its inflation forecast for the current year.

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