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Gold is falling with the rise of the dollar
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Economy News _ Baghdad
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Added 01/17/2023 - 9:24 AM
Updated 01/17/2023 - 1:56 PM
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Economy News _ Baghdad
Gold prices fell today, Tuesday, affected by the rise in the dollar, although hopes of a slowdown in the Federal Reserve raising interest rates limited further losses.
Spot gold fell 0.4% to $1910.48 an ounce as of 03:04 GMT, while on Monday prices reached $1929, the highest level since late April 2022.
US gold futures fell 0.5 percent to $1,912.70.
The dollar rose 0.3%. A strong dollar makes gold less attractive to buyers in other currencies.
According to industry analysts, gold prices are expected to reach record highs above $2,000 an ounce this year, albeit with a bit of turbulence, as the Fed slows the pace of increases and eventually stops them.
As for other metals, spot silver fell 0.8% to $24.20, platinum settled at $1062.50, while palladium rose 0.2% to $1754.37.
Views 92
Added 01/17/2023 - 9:24 AM
Updated 01/17/2023 - 1:56 PM
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