Gold prices have declined
A drop in gold prices has been recorded on global markets. The cost of the precious metal decreased by 0.3% to $4,275 per ounce.
Quotes are falling amid expectations of monetary policy tightening by the US Federal Reserve. According to Reuters, traders are focused on the fact that the regulator may keep interest rates high for a long time amid dollar exchange rate fluctuations, risks in the supply of oil and energy resources in the Middle East, as well as ahead of the US Congressional elections. As a rule, rising interest rates reduce the attractiveness of non-yielding precious metals. Inflationary risks create additional pressure on investors. In August, this indicator reached almost 3.5% in annual terms.
Following gold, silver also became cheaper. Its value decreased by 0.8% to $64 per ounce.