Gold prices remain almost unchanged ahead of central banks’ meetings

Gold prices on June 7 morning almost remained unchanged before the start of the cycle of meetings of the world’s major central banks, Report informs referring to the auction data.

At the same time, analysts see good prospects for the precious metal due to the risks of stagflation.

The price of August gold futures on the New York Comex exchange rose by $0.1, or 0.01%, to $1,843.8 per troy ounce. July silver futures fell 0.67% to $21.945 an ounce.

Gold is changing slightly in price after a 0.6% decline a day earlier, which was due to the appreciation of the dollar. On June 6, the dollar rose 1.1% against the yen, to a 20-year record. The American currency became more expensive against the euro by 0.4%. An expensive dollar makes gold less affordable when bought in another currency.

At the same time, investors expect a series of meetings of major central banks. On June 9, the regular meeting of the European Central Bank will take place, and next week there will be meetings of the US Federal Reserve System, the Bank of England and the Bank of Japan.