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The price of gold fell after strong US data reinforced the prospects rate hike

Adel 8 August, 2022 11:53 am Commodities, Market Update

Gold prices fell on Monday after strong US jobs data last week boosted the possibility that the Federal Reserve will raise interest rates significantly, sending dollar and Treasury yields higher.

And the price of gold in spot transactions 0.1 percent to 1771.74 dollars an ounce (an ounce) at 0454 GMT, after declining one percent in the previous session.

US gold futures fell 0.2 percent to $1,788.20.

As for other precious metals, the price of silver settled in spot transactions at $19.87 an ounce, platinum fell 1.3 percent to $920.25 and palladium settled at $2125.68.

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