The US inflation figure for August was released last week, which was higher than expected. Analysts therefore expect a firm intervention by the Federal Reserve next week. Especially since a series of economic data for the US, such as the number of unemployment claims that has fallen for five weeks in a row, show that the economy is holding up. An interest rate increase of another 75 basis points, or even 1 full percentage point, is not ruled out.
This makes gold less attractive than fixed-income investments. The more expensive dollar also has a negative impact. The gold price has already lost 8.8 percent this year. On Thursday, the price fell to 1,666.35 dollars (1,667.76 euros) per ounce, the lowest level in more than two years.