Gold prices fall slightly ahead of US inflation data release

Gold prices fell slightly on September 12 morning as markets await the release of US inflation data, reported from trading data.

The price of December gold futures on the New York Comex exchange fell by $3.25 (0.17%) to $1,943.9 per troy ounce. December silver futures rose 0.02% to $23.39 an ounce.

On September 13, statistics on annual inflation in the US for August are expected to be released. Analysts believe that annual inflation in the country at the end of the month accelerated to 3.6% from 3.2% a month earlier. Consumer price growth may increase for the second month in a row.

Gold is sensitive to statistics from the US and signals from the Federal Reserve on the discount rate, as this affects the dollar exchange rate, which in turn affects the value of this precious metal. Thus, the dollar index (the rate against a basket of currencies of six US trading partner countries) increased by 0.07%, to 104.64 points. A rising dollar makes gold less available for purchase in other currencies and vice versa.





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