Gold prices fall slightly

08.09.2022
1547

Gold prices on September 8 morning fell slightly, Report informs.

The price of December futures for gold on the New York Comex exchange fell by $1.9, or 0.11%, to $1,725.9 per troy ounce. December silver futures rose 0.58% to $18.365 an ounce.

On September 8, gold rose in price by almost 1%, largely due to a decrease in the yield of US government bonds - an alternative direction to the precious metal for "reliable" investments.

The gold market is also influenced by the macroeconomic policies of the world’s major regulators. In light of this, markets are looking forward to the speech of the head of the US Federal Reserve System (FRS) Jerome Powell on September 8. He may give additional clues to the market about his policies.

According to the CME Group, 76% of analysts expect an increase in the discount rate in the US in September by 0.75 percentage points, up to 3-3.25% per annum. At the same pace, the rate was raised twice in the summer. In September, only 24% of experts expect a slowdown in the rates of rate hikes and plan an increase of only up to 2.75-3%. The Fed meeting is scheduled for September 20-21.

08.09.2022
1547
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