Gold weakly declines amid uncertainty over Fed stimulus

The price of gold on Wednesday demonstrates a moderate decline from the level of $1.808 per ounce. The current quotation of the precious metal is $1.795.

The asset was weighed down by data on slowing inflation in the US, which increased uncertainty about the timing of the Federal Reserve's monetary stimulus roll-off. It became known yesterday that consumer prices in the United States, excluding food and energy prices, rose by 0.1% in August, at the lowest rate since February. Analysts had expected the figure to rise by 0.3%.

Now the market's attention will be directed to the two-day meeting of the US Federal Reserve, which will take place next week. Investors are waiting for signals regarding plans to curtail incentives.

Silver fell 0.06% to $23.81 an ounce. Palladium, on the other hand, rose 2.41% to $2,026.16 an ounce. The platinum price dropped to $943.44.