Gold prices fell on Tuesday, pressured by the dollar’s rise. At the same time, the possibility of higher US interest rates for a longer period also affected the non-yielding allure of the precious metal.<\/p>\n\n\n\n
And gold fell in immediate transactions 0.3 percent to $ 1732.10 an ounce (an ounce) by 0736 GMT, after reaching its lowest level in a month at $ 1719.56 in the previous session. US gold futures fell 0.3 percent to $1,744.10.<\/p>\n\n\n\n
The dollar index hovered near a two-decade peak on Monday.<\/p>\n\n\n\n
At a central bank conference in Jackson Hole, Wyoming, the US Federal Reserve and the European Central Bank demonstrated a tough stance. It pledged to do everything possible to rein in relentlessly rising inflation even if it negatively affected growth.<\/p>\n\n\n\n
While gold is considered a safe haven in times of economic uncertainty, higher interest rates increase the opportunity cost of holding gold.<\/p>\n\n\n\n
Markets are now preparing for the possibility of a 75 basis point rate hike at the Federal Reserve’s September meeting.<\/p>\n\n\n\n
Among other precious metals, spot silver fell 0.2 percent to $18.72 an ounce. Platinum fell 1.2 percent to $853.63 and palladium rose 0.1 percent to $2149.53.<\/p>\n","protected":false},"excerpt":{"rendered":"
Gold prices fell on Tuesday, pressured by the dollar’s rise. At the same time, the possibility of higher US interest rates for a longer period also affected the non-yielding allure of the precious metal. And gold fell in immediate transactions 0.3 percent to $ 1732.10 an ounce (an ounce) by 0736 GMT, after reaching its …<\/p>\n","protected":false},"author":9,"featured_media":70951,"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":[37,36],"tags":[6885,6874,9935,6871],"class_list":["post-71139","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-forex-markets","category-market-updates","tag-fed","tag-gold","tag-jackson-hole","tag-usd"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/71139","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=71139"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/71139\/revisions"}],"predecessor-version":[{"id":71140,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/71139\/revisions\/71140"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/70951"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=71139"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=71139"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=71139"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}