Gold prices are retreating slightly from their highest levels in more than 8 months, as its spot price fell 0.3% to $1914.16 an ounce.
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Gold prices are falling
Gold prices retreated slightly from their highest levels in more than 8 months, which they reached in the early hours of Monday morning, but held firm above $1900 an ounce, supported by expectations that the US central bank will raise interest rates at a slower pace.
And the price of gold in instant transactions decreased 0.3% to 1914.16 dollars an ounce. Earlier in the session, prices reached $1,929 an ounce, the highest level since late April.
US gold futures fell 0.3% to $1917.30.
The dollar rose 0.2%, which made gold priced in the US currency a less attractive bet for holders of other currencies.
The US central bank raised interest rates by 75 basis points four times last year, before slowing the pace to 50 basis points in December.
Most dealers expect it to raise it by 25 basis points at the next policy meeting to be held on January 31st and February 1st.
In terms of other precious metals, the spot silver price fell 0.1% to $24.22 an ounce, after reaching its highest level in nearly two weeks.
Platinum fell 0.2%, to $1,062.47 an ounce, and palladium fell about 2%, to $1,754.64 an ounce.
