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Shafaq News/ The dollar flew near the highest level in two decades against its major peers, on Wednesday, while gold deepened its losses after the dollar's rise.
The dollar index, which measures the currency against six rivals, settled near 103.92, not far from the highest level of 104.49 reached at the start of the week for the first time since December 2002.
While gold prices fell today, Wednesday, while the dollar resumed its upward march.
And gold fell in spot transactions 0.7 percent to $ 1837.68 an ounce by 06:11 GMT.
US futures fell 1% to settle at $1,838.0 an ounce.
Investors are awaiting US consumer price index data, which is expected to be released on Wednesday, to gauge its potential impact on the US central bank's plans to raise interest rates.
Gold is considered a hedge against inflation and a safe haven for value in periods of political and economic uncertainty, but it is highly sensitive to rising US interest rates, which increases the opportunity cost of acquiring the non-yielding metal.
Among other precious metals, silver fell in spot transactions 1.65 percent to $21.43 an ounce, platinum rose 1.26 percent to $967.50, while palladium fell 1.2 percent to $2072.00.
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The dollar is hovering near the highest level in two decades, and gold deepens its losses
Shafaq News/ The dollar flew near the highest level in two decades against its major peers, on Wednesday, while gold deepened its losses after the dollar's rise.
The dollar index, which measures the currency against six rivals, settled near 103.92, not far from the highest level of 104.49 reached at the start of the week for the first time since December 2002.
While gold prices fell today, Wednesday, while the dollar resumed its upward march.
And gold fell in spot transactions 0.7 percent to $ 1837.68 an ounce by 06:11 GMT.
US futures fell 1% to settle at $1,838.0 an ounce.
Investors are awaiting US consumer price index data, which is expected to be released on Wednesday, to gauge its potential impact on the US central bank's plans to raise interest rates.
Gold is considered a hedge against inflation and a safe haven for value in periods of political and economic uncertainty, but it is highly sensitive to rising US interest rates, which increases the opportunity cost of acquiring the non-yielding metal.
Among other precious metals, silver fell in spot transactions 1.65 percent to $21.43 an ounce, platinum rose 1.26 percent to $967.50, while palladium fell 1.2 percent to $2072.00.
[You must be registered and logged in to see this link.]
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