The price of gold slightly reduced on Wednesday morning after rising during the past two days, Report informs.

The price of August futures for gold on the New York Comex exchange fell by $1.95 (by 0.1%) to $1,979.55 per troy ounce. July silver futures fell 0.2% to $23.622 an ounce.

Over the previous two trading sessions, the price of gold increased by 0.6%. The rise in the price of the precious metal was facilitated by the depreciation of the US dollar. The cheaper the dollar, the higher the demand for gold, as this precious metal becomes more available to buy in another currency.