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Gold falls to its lowest level
10:00 - 20/07/2018
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Gold fell to its lowest level as the dollar rallied after comments by US Federal Reserve Chairman Jerome Powell confirmed expectations for further US interest rate increases this year.
Gold, which is not yielding, is vulnerable to US interest rates as its rise increases the cost of precious metal and supports the dollar.
Spot gold fell 0.4 percent to $ 1222.35 an ounce late in the US session after touching earlier at $ 1211.08, its lowest level since July 2017.
US gold futures for August delivery fell 0.3 percent to settle at $ 1224 an ounce.
Among other precious metals, spot silver fell 1.5 percent to $ 15.30 an ounce after hitting a year low of $ 15.13.
Platinum fell 0.9 percent to $ 805.90 an ounce after falling earlier to $ 788, the lowest since December 2008.
Palladium fell 3.8 percent to $ 871.90 an ounce after hitting its lowest level since July 2017 at $ 859.50.
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