Gold prices fell during trading on Thursday following the release of positive economic data as well as the rise of the dollar against most major currencies.
Government data released today revealed that the Consumer Price Index in the United States rose by 3.7% year-on-year in September, the same as the August reading, but exceeded expectations of 3.6%, while on a monthly basis it rose by 0.4% and more than expectations of 0.3%.
As the data of the US Department of Labor showed, applications for primary unemployment benefit stabilized at 209 thousand applications in the week ending on the seventh of October.
It should be noted that the minutes of the Fed meeting released yesterday showed that policymakers are likely to reach the average target range of interest rates by the end of this year to 5.625%, which indicates the likelihood of another interest rate increase.
On the other hand, by 21:40 GMT, the dollar index rose by 0.7% to 106.5 points, the highest level was recorded at 106.6 points and the lowest at 105.5 points.
In terms of trading, spot gold contracts by 21:41 GMT fell by 0.3% or the equivalent of 5.60 dollars to 1881.7 dollars per ounce.
