Gold prices declined moderately on December 14 after jumping 1.9% on December 14 to around $1,820 a troy ounce, reported from the auction data.

Data on slowing inflation in the US supported gold. Now the markets are waiting for the results of the meeting of the US Federal Reserve System (FRS).

Annual inflation in the US in November slowed down more than expected, to 7.1% from 7.7% a month earlier, while the forecast was 7.3%. Monthly inflation also turned out to be less than expected and amounted to 0.1% against 0.4% in October.

As a result, the dollar index (the exchange rate against a basket of currencies of six US trading partners) fell by 1%, to about 104 points, while gold rose by 1.85% on December 13. The weakening dollar stimulates demand for gold, making it more affordable to buy in other currencies.

Markets are now focusing on the Fed meeting. The results will be announced on December 14 evening. According to the CME Group, 79% of experts expect the regulator to slow down the pace of the rate increase to 50 basis points against the backdrop of strong macro statistics, and the figure will be 4.25-4.5% per annum.

The cost of gold is sensitive to signals from the Fed and macro statistics from the US, as this affects the dollar.

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