The world price of gold fell today, Tuesday, due to fluctuations in the dollar on the eve of the release of the US inflation report, according to CNBC.
The cash purchase price of an ounce of gold on the London Stock Exchange, Spot Gold, fell 0.12% as of 7:21 a.m. Tehran time and returned to $ 1,791.25.
The pre-purchase price of US gold per ounce fell 0.12 percent to $ 1,792.30.
The release of new US inflation data, which could play an important role in determining the Fed’s future monetary policy, will be key to global financial markets.
The dollar index, which reached its highest level in several weeks yesterday against its major rivals, fell slightly today to limit the fall in gold prices.
If the new data shows that US inflation has risen, the price of gold will strengthen. Investors resort to buying gold when inflation rises.