Statistics from the USA supported gold

On Friday evening, gold rose in price by 1.5% after the publication of statistics from the US, which put pressure on the dollar. The current quotation of the precious metal is $1,779.30 per troy ounce. September silver futures rose 3% to $23.817 an ounce.

Gold quotes significantly accelerated growth after the publication of the University of Michigan Consumer Sentiment Index. According to preliminary estimates, the index fell to 70.2 points in August from 81.2 points in July. Analysts predicted that the indicator would remain at the July level.

Gold has also been affected by growing concerns about the delta strain and the economic impact of its spread.

Analysts note that the current rise in gold can be called corrective, since on Monday and last Friday gold was oversold, falling in price for both days by 4.5%.