Gold prices have been falling for six months in a row

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Gold prices have been falling for six consecutive months amid metal purchases by global central banks. At the end of September, gold fell by 0.9%. Since the beginning of the year, the cost of this precious metal has decreased by 8% and reached at auction on Wednesday 1 thousand 202 dollars 90 cents per troy ounce. According to the World Gold Council, the world central banks for the six months increased their gold reserves by 8% in annual terms, having bought 193 tons of 300 kilograms of gold. Senior Investment Strategist at U.S. Bank Rob Haworth believes that gold prices will continue to fall amid further US dollar growth, which is associated with the plans of the Federal Reserve System to further increase rates upon condition of stable US economic growth.

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