Gold prices fell today, affected by the rise in the dollar, which reduces the attractiveness of the precious metal as a safe haven, and the results of the US Federal Reserve’s interest rate meetings scheduled for this week.
Spot gold prices fell 0.4% to $1911.70 an ounce, and US gold futures fell 0.51% to $1919.40.
As for other precious metals, silver settled in spot transactions at $22.7667 an ounce, while platinum fell 0.6% to $895.61 and palladium fell 0.3% to $1224.34.
The dollar index rose 0.3%, making gold more expensive for holders of other currencies, while the 10-year US Treasury yield rose to 3.844%, after hitting its highest level since March last week.
High interest rates would limit investment in gold, which does not yield a return, as investors believe that there is a possibility of 87% to raise the interest rate by 25 basis points in July.
2023-07-03 14:17:26
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