Gold prices fell today, Monday, from the highest level it reached three months ago in the previous session at a time when the dollar and the return of American bonds rose after one of the senior officials of the Federal Reserve (the US Central Bank) warned that the council did not reduce its battle against inflation.
The price of gold in instant transactions fell 0. 5% to 1761. 86 dollars an ounce (ounce) as of 02:39 GMT after he recorded its highest levels since August 18 on Friday.
US gold futures fell 0. 3% to $ 1764. 80.
Gold prices recorded its largest weekly gains since March 2020 last week, after the indicators of the slowdown in the United States raised hopes that the Reserve Council will be less adhering to raising interest rates.
The Chairman of the Federal Reserve, Christopher Wald, said on Sunday that the council may consider slowing the pace of interest rates in its next meeting, but this should not be explained as a “reduction” of his battle against inflation.
On Friday, a survey showed that consumer morale in the United States declined in November, affected by the constant concerns about inflation and high borrowing costs.
Gold is very sensitive to the high American interest rates because this increases the cost of alternative opportunity to possess the return of return.
The dollar index rose 0. 4% after its low level in three months on Friday, making gold more expensive for other currencies.
The record US treasury bonds have increased for ten years from their lowest level in a month..
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