Gold prices fell in limited trading, on Tuesday, following the strong performance of the dollar and the expected hike in interest rates outweighed the supportive effect of gold from concerns regarding the outlook for the global economy.
And gold fell in spot transactions 0.2 percent to 1805.20 dollars an ounce (an ounce) by 0725 GMT. US gold futures rose 0.4 percent to $1,807.80 an ounce.
The dollar rose once more, approaching its highest level in 20 years, which increases the price of dollar-denominated gold for buyers in other currencies, and reduces demand for it.
And gold was affected last month by the move of major central banks around the world, to raise interest rates in an attempt to contain inflation.
Jeffrey Haley, chief market analyst at Oanda Brokerage, said the decline in US bond yields seemed to disrupt the inevitable correction in non-yielding gold prices.
Gold is seen as a safe haven of value in times of economic crisis and recession.
For other precious metals, silver rose in spot transactions 0.2 percent to $ 19.99 an ounce, and platinum fell 1.1 percent to $ 876.02. And palladium rose 0.5 percent to 1931.92 dollars.
(Archyde.com)
