Investors evaluate the results of the next meeting of the US Federal Reserve System (FRS).
The price of February futures for gold on the New York Comex exchange fell by $16.95, or 0.93%, to $1,801.75 per troy ounce. March silver futures fell 3.17% to $23.372 an ounce.
On December 14, the Fed announced the results of the December meeting. The regulator expectedly raised the base interest rate to the level of 4.25-4.5% per annum, also predicting the base rate at the level of at least 4.75-5% by the end of 2023.
The head of the regulator, Jerome Powell, said at a press conference that the Fed considers it expedient to keep the base interest rate at a high level until the decline in inflation turns out to be stable and sustainable.
Expectations for a high rate are favorable for the dollar and negative for gold, which in this case becomes less available when buying in another currency.
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