© Reuters. Gold bars weighing one kilogram are found in Mendrisio, Switzerland on July 13, 2022. Photo: Denis Balibos / Reuters
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(Reuters) – It fell more than 1% as the dollar rose after an unexpected rise in the US consumer price index in August, driving bets on a Federal Reserve hike in interest rates. .
Prices fell 1.2% to $ 1703.80 an 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 was up 1.3%, making gold more expensive for overseas buyers.
Among other precious metals, spot trades fell 1.4% to $ 19.51 an ounce, after posting the largest daily percentage increase since February 2021 on Monday.
Platinum fell 2.1% to $ 887.94 and 6.4% to $ 2,120.16.
(Prepared by Marwa Gharib and Muhammad Ali Farag for the Arabic Bulletin – Edited by Mustafa Saleh)
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