Gold prices settled near their lowest level in two and a half years today, Monday, affected by the rise in the dollar and with the adoption of a tough stance by major central banks on interest rates to reduce inflation.<\/p>\n\n\n\n
And the price of gold in spot transactions fell 0.3% to $ 1637.85 an ounce, as of 04:15 GMT. Prices fell 1% earlier in the session to their lowest level since April 2020, recording $1,626.41.<\/p>\n\n\n\n
Gold prices have fallen more than 20% since it crossed the key $2,000 an ounce limit in March.<\/p>\n\n\n\n
The dollar index, which measures the performance of the US currency against 6 major currencies, rose to its highest level since 2002, supported by the decline of the pound sterling.<\/p>\n\n\n\n
The US Federal Reserve and a number of other major central banks raised interest rates last week, raising concerns about their impact on growth.<\/p>\n\n\n\n
Raising interest rates in the United States reduces the attractiveness of non-yielding gold while strengthening the dollar in which gold is priced.<\/p>\n\n\n\n
As for other precious metals, the price of silver in spot transactions fell 1.6 percent to $18.54 an ounce, after falling earlier to its lowest level in more than two weeks.<\/p>\n\n\n\n
The price of platinum rose 0.5% to $858.40, and the price of palladium rose 0.9% to $2084.79.<\/p>\n\n\n\n
<\/p>\n","protected":false},"excerpt":{"rendered":"
Gold prices settled near their lowest level in two and a half years today, Monday, affected by the rise in the dollar and with the adoption of a tough stance by major central banks on interest rates to reduce inflation. And the price of gold in spot transactions fell 0.3% to $ 1637.85 an ounce, …<\/p>\n","protected":false},"author":9,"featured_media":72829,"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":[38,37,36],"tags":[6885,6874,8374,6984,6871,7624],"class_list":["post-72853","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-forex-markets","category-market-updates","tag-fed","tag-gold","tag-market-mood","tag-treasury-yields","tag-usd","tag-volatility"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/72853","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=72853"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/72853\/revisions"}],"predecessor-version":[{"id":72854,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/72853\/revisions\/72854"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/72829"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=72853"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=72853"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=72853"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}