On Wednesday, gold prices are sharply declining against the backdrop of a strengthening dollar, caused by inflation in the US accelerating faster than expected.
“Elchi” reports that this is shown by data from the “Comex” exchange.
As of 20:02 Baku time, gold December futures quotes on the Comex exchange decreased by 1.9% to $4,096.7 per ounce. By 22:07, the price of the precious metal fell to $4,104.8 per ounce.
In September, consumer prices (CPI index) in the US increased by 3.7% year-on-year, according to the Ministry of Labor. Inflation accelerated compared to 3.4% a month earlier and reached its maximum since April. The consensus forecast of analysts presented by “Trading Economics” predicted a 3.6% increase in prices in September.