Gold prices fell more than 1% as the dollar rose after an unexpected rise in the US consumer price index in August, raising bets that the Federal Reserve (the US central bank) will raise the price. interest rates.
Spot gold prices fell 1.2% to $ 1,703.80 per ounce by 1745 GMT.
And US gold futures fell 1.3% to come in at $ 1,717.40.
The consumer price index in the US rose unexpectedly in August, as falling gasoline prices offset rising rental and food costs.
The US dollar index rose 1.3%, making gold more expensive for overseas buyers.
Among other precious metals, spot silver fell 1.4% to $ 19.51 an ounce, after posting its largest daily percentage increase since February 2021 on Monday.
Platinum fell 2.1% to $ 887.94 and Palladium fell 6.4% to $ 2,120.16. (Reuters)
–
