Open Demo Account
Home / Market Update / Commodities / The rise of dollar dispels the luster of gold

The rise of dollar dispels the luster of gold

Adel 29 September, 2022 4:37 pm Commodities, Market Update

Gold prices fell one percent on Thursday, with the dollar rebounding after a brief decline in the previous session, while an imminent and expected interest rate hike was still hampering the precious metal’s rise.

By 0935 GMT, spot gold fell 0.8 percent to $1,646.97 an ounce, after recording its best daily performance since March on Wednesday, when the dollar fell briefly.

US gold futures were down 1 percent at $1,653.20.

The dollar index rose 0.8 percent, which makes gold more expensive for buyers of other currencies.

As for other precious metals, silver fell 1.3 percent in spot transactions to $18.64 an ounce.

Platinum fell 1.1 percent to $853.97 an ounce.

Palladium rose 0.1 percent to $2,157.71 an ounce.

Tags

Check Also

Harris or Trump: When will Americans know who their new president is?

The presidential election results will begin to come in on Tuesday night after polls close …

This site contains information and opinions for the purpose of providing only general information and can not be relied upon. The information and opinions contained in this Site shall in no way constitute an offer or solicitation to buy, sell or subscribe to any investment product. Users of this site shall bear any risks arising from the use of any information, opinion, program, service or material. Noor Trends reserves the right to make any change to the Site, the information, opinions, materials, products, programs, services or prices (if any) at any time without notice.
All copyrights reserved Noor Trends