Gold and Silver Declining as US Dollar Rallied to a Two-Month High

Gold and silver prices fell on Thursday, February 4th, as the dollar’s rally negatively affected their attractiveness, while investors awaited the approval of a massive stimulus package in the United States and the Bank of England’s policy expectations.

Gold fell in immediate transactions 0.6% to 1822.81 dollars an ounce. US gold futures fell 0.7% to $ 1822.90.

Silver fell 1.1% to $ 26.56. Prices have fallen since hitting an almost 8-year high of $ 30.03 on Monday as a rally led by social media posts faded.

As for the other precious metals, platinum fell 1.4% to $ 1086.12 an ounce, and palladium lost 0.5% to $ 2,262.68.