Gold prices fell for the fourth time in today’s Tuesday trading as gold dip values have now reached £200 and a source in the gold market revealed that consumers tended to sell off manufactured goods. gold to take big profits after historic spikes in gold in the past few days, and gold selling caused some decline. For the precious metal, prices could see further declines in the next few hours if selling operations continue .
Gold prices today:
18 karat registered 1423 pounds.
21 carat registered 1660 pounds.
24 carats, a record 1897 pounds.
And the gold pound is £13,280.
In global gold prices, there was little change in gold prices on Tuesday 6 December, with the dollar stabilizing after posting its biggest jump in two weeks in the previous session, while fears of a major US rate hike by the Federal Reserve continued.
Gold stabilized in spot transactions at $1769.99 an ounce, and US gold futures contracts were unchanged at $1781.20 an ounce.
Gold fell after hitting a 5-month high, closing down 1.6% as the dollar rallied after data fueled speculation that the US Federal Reserve could raise interest rates more than expected recently.
OANDA chief market analyst Edward Moya said financial markets had to raise expectations of a rate hike from the US Federal Reserve after a pay hike in November.
“However, gold has rallied slightly since early November and a steep decline does not seem warranted as the economy slows down and inflation is expected to decline steadily here.
