Gold prices fall slightly in anticipation of news from US Federal Reserve

Gold prices declined slightly on July 27 morning ahead of the publication of the results of the meeting of the US Federal Reserve System (FRS), Report informs referring to the auction data.

The price of August gold futures on the New York Comex exchange fell by $0.1, or 0.01%, to $1,717.6 per troy ounce. Minutes earlier, the price of gold showed an equally weak growth. September silver futures rose 0.06% to $18.547 an ounce.

According to the CME Group, most analysts expect the Fed to raise the rate by 75 basis points. Also, traders are waiting for the speech of the chairman of the regulator, Jerome Powell, as part of a press conference.

The decision of the Fed is important for the gold market, in particular, because the degree of rigidity of the Fed's policy affects the dollar, and its strengthening, as a rule, leads to cheaper precious metals, and vice versa.