Gold prices fall amid strengthening US dollar

Gold prices fell slightly on December 30 morning under the pressure of the strengthening US dollar, Report informs referring to the auction data.

The price of February gold futures on the New York Comex exchange decreased by 0.3%, or $5.45, to $1,800.25 per troy ounce.

Negative dynamics was observed on the precious metal market on December 30 morning, which was facilitated by the strengthening of the US dollar. The dollar index (the rate against a basket of currencies of six countries – the main trading partners of the US) is growing by 0.07%, to 96 points.

With a more expensive dollar, gold becomes a less profitable asset for holders of other currencies, as a result, the demand for it falls.

Gold’s attempts to start a meaningful recovery remain inconclusive, analysts at Oanda told the Wall Street Journal, expecting the precious metal at around $1,790–$1,815 an ounce soon.