Today, prices for precious metals are fluctuating on global markets. White gold - platinum - decreased by 0.2% to $1190.97 per ounce, while palladium increased by 0.23% to $1025.15 per ounce.
Last week, gold demonstrated stable growth, reaching a peak of $2758.37 per ounce, but current trades have dropped by 0.5% to $2732.90 per ounce. Futures for gold fell by 0.33% to $2745.30 per ounce due to the strengthening of the dollar.
Investors are following the US dollar, as the strengthening of this currency makes gold less attractive for holders of other currencies. Additionally, market conditions affect the rising income of American government bonds.
According to the forecast from the Federal Reserve's analytical instrument, there is a 94.8% probability that the market expects a reduction in the interest rate by 25 basis points at the meeting in November.
Silver also retreated from its position, dropping by 0.4% to $33.57 per ounce. Overall, analysts believe that the current price decline for precious metals is influenced by the US dollar, and they await new signals from the Federal Reserve regarding further monetary policy.
