Gold price drops slightly after three-day increase

The price of gold fell slightly on Thursday morning after rising for three trading sessions.

The price of April gold futures on the Comex New York Stock Exchange fell by $1.85, or 0.1%, to $18,234.8 per troy ounce. March silver futures fell 0.25% to $23.277 an ounce.

The price of gold is correctively declining after rising during the previous three trading sessions. Such dynamics were facilitated by expectations of higher inflation in the US, which traditionally makes the precious metal a safe-haven asset.

Analysts predict that consumer price growth accelerated to 7.3% in January from 7% in December. This level of price growth could be a record since February 1982.

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