MOSCOW, Aug 20 – PRIME. The price of gold on Thursday morning fell by 1%, the comments of the US Federal Reserve System (FRS) from the minutes of the July meeting on plans for measures to support the economy continue to restrain the price of the metal, according to trading data.
As of 8.43 Moscow time, the price of December gold futures on the New York Stock Exchange Comex decreased by 1.12%, or by $ 22 – to $ 1,948.3 per troy ounce, on Wednesday the price of gold fell by 2%. Silver futures for September fell 1.19% to $ 27.015 an ounce.
On Wednesday evening, the minutes of the Fed’s meeting, which took place in late July, was released. The regulator again discussed its commitment to the use of the full range of instruments to support the development of the country’s economy, while some participants in the meeting admitted the need for additional support measures to bring inflation back to the target of 2%.
As a result, the dollar rate after the publication of the document began to strengthen, on Wednesday the dollar index rose by 0.8%. A stronger dollar makes gold more expensive for other currency investors. The dollar index continues to rise on Thursday morning.
“The expectation that the Fed will do something extra has been a catalyst for the sale (of gold – ed.) At this stage,” said Circle Squared Alternative Investments founder Jeffrey Sica, quoted by Reuters.
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