There was little change in gold prices on Tuesday, as the dollar stabilized after recording its largest jump in two weeks in the previous session, while fears of a larger US rate hike by the Federal Reserve persisted.<\/p>\n\n\n\n
And by 0553 GMT, gold settled in spot transactions at $ 1769.99 an ounce, and US gold futures contracts remained unchanged at $ 1781.20 an ounce.<\/p>\n\n\n\n
Gold fell after hitting a five-month high, closing 1.6 percent lower as the dollar recovered after data fueled speculation that the US central bank may raise interest rates more recently than expected.<\/p>\n\n\n\n
High-interest rates affect the attractiveness of gold because they raise the opportunity cost of owning the precious metal, which does not pay interest.<\/p>\n\n\n\n
Reuters technical analyst Wang Tao said that gold may jump in spot transactions to $ 1783 an ounce, before continuing its decline towards $ 1766 an ounce.<\/p>\n\n\n\n
As for other precious metals, spot silver rose 0.5 percent to $22.37 an ounce. Platinum rose 0.1% to $998.63 an ounce. Palladium rose 0.5 percent to $1,885.75 an ounce.<\/p>\n","protected":false},"excerpt":{"rendered":"
There was little change in gold prices on Tuesday, as the dollar stabilized after recording its largest jump in two weeks in the previous session, while fears of a larger US rate hike by the Federal Reserve persisted. And by 0553 GMT, gold settled in spot transactions at $ 1769.99 an ounce, and US gold …<\/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":[38,37,36],"tags":[6885,6874,8143,8496,6984],"class_list":["post-76728","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-forex-markets","category-market-updates","tag-fed","tag-gold","tag-interest-rate-hikes","tag-tightening-monetary-policy","tag-treasury-yields"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/76728","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=76728"}],"version-history":[{"count":3,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/76728\/revisions"}],"predecessor-version":[{"id":76731,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/76728\/revisions\/76731"}],"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=76728"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=76728"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=76728"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}