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Gold prices fall again

21.11.2022
1387

Gold prices fell on November 21 morning, as the markets are waiting for the decision of the US Federal Reserve System (FRS) in December, Report informs referring to the auction data.

The price of December futures for gold on the New York Comex exchange fell by $6.65, or 0.38%, to $1,747.75 per troy ounce. December silver futures fell 1.05% to $20.777 an ounce.

Traders remain cautious when assessing the outlook for US monetary policy. Most analysts expect another increase in the discount rate in December. Tightening monetary policy is negative for the price of gold.

This has already led to some reduction in the price of gold, by 0.42% over the past week on the Comex.

Also, the market is now affected by some strengthening of the dollar against other major world currencies, which makes gold less available to buy in another currency.

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21.11.2022
1387
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