Gold prices fell on Monday as higher interest rates made the precious metal less attractive but the dollar’s decline helped hold gold above the $1800 support.<\/p>\n\n\n\n
Spot gold fell 0.2 percent to $1,806.58 an ounce by 1121 GMT, after touching a five-month low of 1,783.50 on Friday. US gold futures rose 0.3 percent to $1,806.50 an ounce.<\/p>\n\n\n\n
The US dollar fell 0.3 percent, but remained close to its highest level in 20 years, which it touched last month.<\/p>\n\n\n\n
A lower dollar makes gold less expensive for holders of other currencies.<\/p>\n\n\n\n
The Federal Reserve is expected to raise the interest rate by another 75 basis points this month.<\/p>\n\n\n\n
The European Central Bank is expected to closely follow its global peers. Eurozone inflation hit a new record in June as price pressures increased.<\/p>\n\n\n\n
As for other precious metals, silver fell in spot transactions 0.2 percent to $ 19.84 an ounce, approaching its lowest level in two years.<\/p>\n\n\n\n
Platinum fell 0.7 percent to $882.73. And palladium fell 0.4 percent to 1951.87 dollars.<\/p>\n","protected":false},"excerpt":{"rendered":"
Gold prices fell on Monday as higher interest rates made the precious metal less attractive but the dollar’s decline helped hold gold above the $1800 support. Spot gold fell 0.2 percent to $1,806.58 an ounce by 1121 GMT, after touching a five-month low of 1,783.50 on Friday. US gold futures rose 0.3 percent to $1,806.50 …<\/p>\n","protected":false},"author":9,"featured_media":61161,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[38,36],"tags":[6885,6874,8143,8529,6984],"class_list":["post-68040","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-market-updates","tag-fed","tag-gold","tag-interest-rate-hikes","tag-quantitative-tightening","tag-treasury-yields"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/68040","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=68040"}],"version-history":[{"count":2,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/68040\/revisions"}],"predecessor-version":[{"id":68042,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/68040\/revisions\/68042"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/61161"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=68040"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=68040"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=68040"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}