Gold prices stable after earlier fall

Gold prices changed little on December 16 morning, trading just below $1,790 a troy ounce, reported from the auction data. 

A day earlier, the price of gold fell by 1.7% against the backdrop of the appreciation of the dollar.

The price of February futures for gold on the New York Comex exchange rose by $0.75, or 0.04%, to $1,788.55 per troy ounce, on December 15 gold fell by 1.7%. March silver futures fell 0.73% to $23.135 an ounce.

The dollar index (the rate against a basket of currencies of six US trading partners) jumped 0.76% a day earlier to 104.56 points. A more expensive dollar holds back the value of gold, which then becomes less available when purchased in another currency.

Traders continue to expect further measures of the world’s major central banks on monetary policy, regulators continue to raise rates against the backdrop of high inflation in the world.

Since the beginning of the week, gold may show a decline of 1.2%, which may be the first decline after three weeks of growth.





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