Gold falls against the rise of the dollar due to record inflation in the United States

American media reported, Thursday morning, a significant decline in gold prices, against the background of the dollar’s ​​rise against other global currencies.
And the American “Bloomberg” agency, quoting trading data, stated that the recent decline in gold prices is linked to the record inflation taking place in the world, as US trading data recorded yesterday, Wednesday, a record drop in gold prices that the country has not witnessed since November 1981.
According to trading data, the price of the August futures contract for gold on the New York Stock Exchange fell by $9.05, or 0.52%, to $1,726.45 an ounce.
Silver futures for September also fell 0.8% to $19.04.
In a related context, the dollar index (the exchange rate against a basket of currencies of six countries – the trading partners of the United States) rose 0.43% to 108.42 points.
A noticeable impact on trading was also shown by US inflation statistics, which were published on Wednesday, as the country’s annual inflation accelerated to 9.1% y/y after 8.6% in the previous month.