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[size=36]Gold is declining globally[/size]
Economie| 10:00 - 10/19/2022
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Follow-up - Mawazine News
: Gold declined, on Wednesday, with the dollar gaining some strength, while the US Federal Reserve's commitment to tighten its monetary policy also pressured the attractiveness of the non-yielding precious metal.
By 03:17 GMT, spot gold fell 0.1% to $1,650.02 an ounce, while US gold futures settled at $1,654.80.
The dollar index rose 0.1%, after falling to its lowest level since October 6, Tuesday, October 18.
The US Federal Reserve is widely expected to make its fourth consecutive rate hike by 75 basis points when it meets in November.
Gold is generally seen as a hedge against inflation, but higher interest rates increase the opportunity cost of holding the non-yielding yellow metal.
As for other precious metals, silver fell in spot transactions 0.3% to $18.70 an ounce, while platinum settled at $907.38 and palladium rose 0.4% to $2022.13.
: Gold declined, on Wednesday, with the dollar gaining some strength, while the US Federal Reserve's commitment to tighten its monetary policy also pressured the attractiveness of the non-yielding precious metal.
By 03:17 GMT, spot gold fell 0.1% to $1,650.02 an ounce, while US gold futures settled at $1,654.80.
The dollar index rose 0.1%, after falling to its lowest level since October 6, Tuesday, October 18.
The US Federal Reserve is widely expected to make its fourth consecutive rate hike by 75 basis points when it meets in November.
Gold is generally seen as a hedge against inflation, but higher interest rates increase the opportunity cost of holding the non-yielding yellow metal.
As for other precious metals, silver fell in spot transactions 0.3% to $18.70 an ounce, while platinum settled at $907.38 and palladium rose 0.4% to $2022.13.
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