Gold prices have fallen to a minimum in two months

On Monday, the price of gold fell to a 2-month low at $1,809.36 per ounce. The quotes were pressured by strong data on the US economy, which increased fears that the Federal Reserve System will continue to raise interest rates.

Analysts note that given the fact that inflation in the United States accelerated in January, interest in gold, which does not bring guaranteed income, may weaken in the near future. As a result, precious metal prices may continue to remain under pressure. Moreover, gold prices are still extremely sensitive to comments from Fed representatives, key economic data and inflation.

Meanwhile, spot silver prices fell 0.2% to $20.72 per ounce. Experts suggest that in the absence of threats to the global economy, silver may receive support, since in this case industrial demand for this metal may grow.

Platinum was trading at the beginning of the week with an increase of 0.5%, at $913.70 per ounce, while palladium rose 0.5% to $1,410.66 per ounce.