[size=36]Gold prices drop, coinciding with the calls of the US Federal Reserve to combat inflation[/size]
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: Gold prices witnessed a slight decline, today, Wednesday, after calls by US Federal Reserve officials to raise interest rates further to combat inflation, which weighed on market sentiment.
Where the spot gold price reached $ 1922.47 an ounce by 05:54 GMT. And US gold futures fell 0.02 percent to $ 1921.40.
The market is placing a 70% probability that the Federal Reserve will raise the federal funds rate by 50 basis points in May.
And US 10-year Treasury yields jumped to new records since May 2019.
Spot silver prices rose 0.3 percent to $24.83 an ounce, platinum fell 0.2 percent to $1020.88, and palladium rose 3.2 percent to $2,565.02. Ended 29/p92