Gold prices fell on Tuesday, heading towards their largest monthly loss since June 2021, with the decline in the attractiveness of the non-yielding metal, in light of expectations that the Federal Reserve will raise interest rates soon.<\/p>\n\n\n\n
Spot gold fell 0.3 percent to $1,811.74 an ounce by 0735 GMT, after hitting a two-month low on Monday.<\/p>\n\n\n\n
US gold futures fell 0.4 percent to $1,817.30 an ounce.<\/p>\n\n\n\n
Gold is seen as a hedge against inflation, but raising interest rates to curb inflation increases the opportunity cost of holding it.<\/p>\n\n\n\n
The yellow metal has lost about six percent so far this February, recording a sharp decline from what it was earlier this month when it recorded its highest level since April 2022.<\/p>\n\n\n\n
Markets expect the Federal Reserve’s interest rate target to peak at 5.415 percent in September.<\/p>\n\n\n\n
And silver in the spot market fell 0.2 percent to $ 20.58 an ounce, on its way to recording the largest monthly loss since September 2020.<\/p>\n\n\n\n
Platinum rose 0.1% to $939.33, and palladium rose 0.2% to $1,432.84 an ounce. The two metals are expected to record a monthly decline in prices.<\/p>\n","protected":false},"excerpt":{"rendered":"
Gold prices fell on Tuesday, heading towards their largest monthly loss since June 2021, with the decline in the attractiveness of the non-yielding metal, in light of expectations that the Federal Reserve will raise interest rates soon. Spot gold fell 0.3 percent to $1,811.74 an ounce by 0735 GMT, after hitting a two-month low on …<\/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":[6885,7770,6874,8444],"class_list":["post-80729","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-forex-markets","category-market-updates","tag-fed","tag-fomc-minutes","tag-gold","tag-hawkish-language"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/80729","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=80729"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/80729\/revisions"}],"predecessor-version":[{"id":80730,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/80729\/revisions\/80730"}],"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=80729"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=80729"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=80729"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}