Gold prices declining amid statistics from US

Gold prices on November 12 morning are declining, after rising in price for six trading sessions in a row, and since the beginning of this week prices have grown 2.3% against the backdrop of statistics on record-high inflation in the US, Report informs.

By 8:56 (GMT+4), the price of December futures for gold on the Comex New York stock exchange decreased by 0.27% or by $4.95 to $1,858.95 per troy ounce.

December futures for silver fell 0.25% to $25.238 per ounce.

The gold price was supported by statistics on record inflation in the US. According to official data, annual inflation in the country jumped to 6.2% in October from 5.4% a month earlier, while it was expected at only 5.8%. October data hit a record high since 1990.

Such statistics increased inflationary risks, which supported gold. As a result, since the beginning of the week, the price of gold has shown an increase of about 2.3%, the indicator has grown for six trading sessions in a row.