2023-04-18 02:53:06
Gold futures prices started the new week’s trading yesterday, with a decline in light of the dollar’s rise against other major currencies, with investors expecting a new increase in US interest rates.
Thomas Barkin, president of the Federal Reserve Bank of Richmont and a member of the Federal Reserve (central bank), said he wanted additional evidence that inflation had begun to fall back into the target range before halting interest rate increases.
The dollar value index rose this afternoon to 102.23 points, compared to 102.16 points shortly before that, an increase of 0.6% from its level at the close of trading on Friday.
The yellow metal ended today’s trading with a decline of $8.80 to $2,007 an ounce for next June delivery, after rising earlier in trading to $2,028 an ounce. The metal also fell during trading to $1,993.40 an ounce, before cutting its losses before the end of trading.
The price of silver fell by $0.372 to $25.088 an ounce for next May delivery, while the price of copper fell by $0.0405 to $4.0660 per pound for next May delivery.
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