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[size=35][size=35]Gold prices are falling globally[/size]
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2022-11-07 | 01:35
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Alsumaria News - Economy
The precious metal rose 3 percent on Friday, with the dollar declining nearly 2 percent after US jobs data revived hopes that the Federal Reserve will be less hawkish in raising interest rates in the future.
Four Federal Reserve policymakers also indicated Friday that they are still considering a smaller rate hike at their next monetary policy meeting.
Gold is considered as a hedge against inflation, but high interest rates negatively affect the attractiveness of non-yielding assets.
And gold fell in spot trading by 0.4 percent to $ 1672.99 an ounce, by 0449 GMT.
US gold futures settled at $1,676.30.
Matt Simpson, an analyst at City Index, said it was common to see prices pulling back against a big move from the previous session, with gold falling as the dollar rose slightly.
The dollar index regained some losses, rising 0.2 percent.
As for other precious metals, silver rose in spot trade by 1.3 percent to 20.56 an ounce, platinum fell one percent to $ 951.46, and palladium fell 0.5 percent to $ 1871.00.
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Economie
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2022-11-07 | 01:35
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[/size]
608 views
Alsumaria News - Economy
Gold prices fell today, Monday, from their highest level in three weeks in the previous session, with the US dollar regaining some of its gains, making bullion priced in US dollars more expensive for holders of other currencies.
The precious metal rose 3 percent on Friday, with the dollar declining nearly 2 percent after US jobs data revived hopes that the Federal Reserve will be less hawkish in raising interest rates in the future.
Four Federal Reserve policymakers also indicated Friday that they are still considering a smaller rate hike at their next monetary policy meeting.
Gold is considered as a hedge against inflation, but high interest rates negatively affect the attractiveness of non-yielding assets.
And gold fell in spot trading by 0.4 percent to $ 1672.99 an ounce, by 0449 GMT.
US gold futures settled at $1,676.30.
Matt Simpson, an analyst at City Index, said it was common to see prices pulling back against a big move from the previous session, with gold falling as the dollar rose slightly.
The dollar index regained some losses, rising 0.2 percent.
As for other precious metals, silver rose in spot trade by 1.3 percent to 20.56 an ounce, platinum fell one percent to $ 951.46, and palladium fell 0.5 percent to $ 1871.00.
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