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Gold prices are falling with the rise of the dollar globally
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Economy News _ Baghdad
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Added 01/18/2023 - 9:02 AM
Updated 01/18/2023 - 1:32 PM
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Economy News _ Baghdad
Gold prices fell slightly today, Wednesday, with the rise of the US dollar, but expectations of a slowdown in the pace of the Federal Reserve raising interest rates limited losses.
Spot gold fell 0.3 percent to $1,898.79 an ounce by 02:56 GMT.
US gold futures fell 0.2% to $1,900.
The dollar index rose 0.3 percent, and a higher dollar makes gold more expensive for buyers holding other currencies.
The metal benefits from lower interest rates, as it reduces the opportunity cost of owning non-returnable gold.
As for other precious metals, spot silver fell 0.1 percent to $23.90 an ounce, platinum fell 0.6 percent to $1,033.06, and palladium fell 0.2 percent to $1,740.30.
Views 83
Added 01/18/2023 - 9:02 AM
Updated 01/18/2023 - 1:32 PM
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