Gold price today decreased for the fourth trading session in a row on Wednesday evening in anticipation of an increase in the key rate by the U.S. Federal Reserve (Fed), according to the trading data.

The price of December gold futures on the New York Comex Exchange fell by $8.75, or 0.50%, to $1,727.55 a troy ounce. September silver futures fell 2.11 percent to $17.902 an ounce.

As part of his speech Friday, U.S. Federal Reserve Chairman Jerome Powell stressed that the U.S. regulator will use tight monetary techniques, such as raising the key rate, to return inflation to the 2% target. According to the CME Group, 68.5% of analysts predicted a 75 basis point hike in September.

Gold price usd is sensitive to expectations around the U.S. Federal Reserve’s rate policy as the regulator’s decisions affect the dollar, which is reflected in the precious metal’s value. The more expensive the dollar, the less readily gold becomes available for purchase in another currency.

Earlier we reported that the dollar moved down against the euro after the U.S. labor market statistics.