2023-08-08 08:48:05
Gold prices fell as the dollar regained some stability, amid investors’ anticipation of US inflation data scheduled for release this week to get a clearer picture of the prospects for raising interest rates.
Gold fell in spot trading 0.2 percent to 1933.24 dollars, and US gold futures fell 0.1 percent to 1967.90 dollars.
The dollar rose once morest other major currencies, making the precious metal more expensive for buyers holding other currencies.
And in the event that a larger-than-expected rise in consumer prices is announced in the data scheduled for release Thursday, this might increase the possibility of raising interest rates once more when Federal Reserve officials meet in September.
Raising interest rates would increase bond yields, which would increase the opportunity cost of holding non-yielding bullion.
Silver settled in spot trading at $23.15, and platinum fell 0.4 percent to $916.47. Palladium also fell 0.2 percent to $1,237.38.
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