Gold prices fell 1% during Thursday’s trading, with the recovery of the dollar after comments indicated recently from Federal Reserve officials to the continued tightening of the monetary policy to tame inflation.
gold prices
By 1542 GMT, gold in instant transactions decreased 0. 9% to 1758. 45 dollars an ounce, after decreasing to $ 1753. 6 earlier in the session.
US gold futures for December delivery fell 0. 8% to $ 1760. 90 an ounce, according to Reuters.
The rise in the dollar
The dollar index rose 0. 7%, which made gold more expensive for other currencies, and US treasury bonds have increased for ten years as well.
Benefit
Investors are awaiting the US Central Bank’s decision regarding the raising of interest in December, and raising interest affects the appetite for the precious metal that does not generate returns.
Gold reached its highest level three months ago at 1786.
35 dollars on Tuesday, amid fears of the escalation of the Ukrainian crisis, but the prices have declined since then with the decline of tensions.
As for other precious metals, silver decreased 3. 2% to 20,7794 dollars an ounce. Platinum fell 1. 9% to 987. 25 dollars an ounce and padlium declined 3. 3% to 2004. 28 dollars an ounce..
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