The price of silver decreased in spot trading by 0.2%, to $21.20 an ounce
Gold prices fell today, Monday, while the dollar rose, as a new set of data was released that reinforced fears that central banks around the world will continue to raise interest rates to contain inflation.
The price of gold fell 0.1% to $1853.19 an ounce as of 0037 GMT, after rising to its highest level since February 15 on Friday.
And US gold futures rose 0.3% to $ 1859.60, according to Reuters.
The dollar index rose, making gold less expensive for buyers holding other currencies.
Data on Friday showed the US services sector grew at a steady rate in February, with new orders and employment rising to more than one-year highs, indicating the economy continued to expand in the first quarter.
San Francisco Federal Reserve Chair Mary Daley said on Saturday that if data on inflation and the labor market continues to rise more than expected, it is necessary to raise interest rates and hold them at that level for longer than Fed policymakers expected in December. the first.
European Central Bank President Christine Lagarde said core inflation in the eurozone will remain high in the near term and therefore a 50 basis point rate hike by the European Central Bank later this month is increasingly certain.
Although gold is considered a hedge against inflation, the rise in interest rates to reduce price pressures increases the opportunity cost of holding non-returnable gold.
The spot price of silver declined 0.2% to $21.20 an ounce, the platinum price fell 0.7% to $970.84, and the palladium price fell 0.6% to $1443.65.
