Gold Falls With The Rise of The Dollar And Global Growth Concerns

Gold fell, as the dollar’s rise and concerns about global growth affected risk appetite, while investors awaited any signals from major central banks after policymakers hinted at their support for reducing pandemic-era stimulus measures.

Spot gold fell 0.1 percent to $1,788.11 an ounce, hovering near a two-week low reached in the previous session.

And US gold futures fell 0.2 percent to $ 1789.70 an ounce, while the dollar, a safe haven competitor to gold, stabilized after rising for three consecutive days.

Markets are awaiting the European Central Bank’s monetary policy decision at 1145 GMT, as it could take a symbolic step towards easing emergency economic aid while at the same time emphasizing the continuation of generous support in the coming years.

As for other precious metals, silver fell 0.3 percent to $23.88 an ounce.