Gold prices fell on Wednesday in a narrow range in light of the rise of the dollar, but the precious metal did not move far from the highest level in a week, which it recorded in the previous session, amid anticipation of economic data to be published during the current week.<\/p>\n\n\n\n
Spot gold fell 0.2 percent to $1,813.23 an ounce by 0957 GMT, after rising more than 1 percent on Tuesday on the back of the dollar’s decline.<\/p>\n\n\n\n
US gold futures fell 0.2 percent to $1,822.70.<\/p>\n\n\n\n
The dollar index rose on Wednesday after falling in the previous session.<\/p>\n\n\n\n
Investors are awaiting US GDP data due on Thursday as well as the core PCE price index due on Friday.<\/p>\n\n\n\n
Gold prices have risen by about $200 since falling to their lowest level in more than two years in late September, as expectations about the Federal Reserve slowing interest rate hikes affected the dollar’s attractiveness.<\/p>\n\n\n\n
Although gold is usually a hedge against inflation, it tends to lose its luster when interest rates rise.<\/p>\n\n\n\n
As for other precious metals, spot silver fell 1.3 percent to $23.84 an ounce, platinum also fell 1.3 percent to $994.90, while palladium fell 1.9 percent to $1,699.92.<\/p>\n","protected":false},"excerpt":{"rendered":"
Gold prices fell on Wednesday in a narrow range in light of the rise of the dollar, but the precious metal did not move far from the highest level in a week, which it recorded in the previous session, amid anticipation of economic data to be published during the current week. Spot gold fell 0.2 …<\/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":[38,36],"tags":[6874,6984,8367],"class_list":["post-77372","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-market-updates","tag-gold","tag-treasury-yields","tag-us-dollar"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/77372","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=77372"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/77372\/revisions"}],"predecessor-version":[{"id":77373,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/77372\/revisions\/77373"}],"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=77372"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=77372"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=77372"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}