Gold Declining Rapidly while USD Maintains Gains

Gold fell on Tuesday, August 11th, as a relative rise in the dollar against the rest of the currencies prompted some investors to profit-taking, which rose to a record high of $ 2,000 an ounce.

Spot of gold fell 0.5% to 2017.53 dollars an ounce, retreating from a record high of 2072.50 dollars an ounce, recorded last week.

And US gold futures fell 0.6% to 2026.90 dollars an ounce.

The dollar held its gains last night as investors pinned their hopes on a stimulus agreement in Washington, and the yield on US Treasury bonds rose from the lowest level in months.

As for the other precious metals, silver fell 1% to $ 28.86 an ounce, while platinum fell 0.8% to $ 979.12 an ounce. Palladium rose 0.7% to $ 2,234.90 an ounce.