The price of December gold futures on the New York Comex exchange fell by $2.75 (0.14%) to $1,929.65 per troy ounce. December silver futures fell 1.12% to $22.922 an ounce.
A day earlier, the US Department of Labor reported that annual inflation in the country in August accelerated to 3.7% from 3.2% a month earlier. Analysts predicted the figure at 3.6%. On a monthly basis, US consumer prices rose 0.6% in August, as expected, after rising 0.2% in July.
Thus, the data may provide clues about further actions by the US Federal Reserve System regarding monetary policy in the country, which, in turn, affects the dollar exchange rate and the yield of the US government debt. These factors, in turn, influence the gold market, which also acts as an alternative market for safe-haven financial assets.
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