The price of gold remains stable at a time when inflation statistics are expected to be released in the United States. So, these statistical indicators may affect the future monetary policy of the Federal Reserve System (FES).
Referring to the stock exchanges, “Report” reports that August gold futures on New York’s “Comex” exchange decreased by 0.07% or 1.25 US dollars and sold for 1723.55 US dollars per ounce. The price of September futures of silver decreased by 0.48% and amounted to 18,867 US dollars per ounce.
One of the main events of the week in the market will be the release of inflation statistics in the United States. Experts believe that the annual inflation rate in the country will be 8.8% in June. Such high inflation may be a signal for FES to tighten monetary policy. On the one hand, this supports the US dollar, but on the other hand, it has a negative effect on the price of gold.