Gold declines under pressure from the rise in the dollar and anticipation of the Federal Reserve’s decision

Gold prices fell on Monday, under pressure from the rise in the dollar, while investors awaited the first meeting of the Federal Reserve (the US central bank) to see indicators on the path of interest rates.

Gold fell in instant transactions by 0.7% to $2,751.71 per ounce, after trading near record levels on Friday.

US gold futures fell 0.8% to $2,756.30.

As for other precious metals, silver fell in spot transactions by 1.3% to $30.20 per ounce. Palladium fell 1.8% to $969.83, and platinum fell 0.9% to $940.40.

The dollar rose against the euro but fell against the yen on Monday as concerns about US tariffs returned and investors prepared for a series of central bank monetary policy meetings and economic data later this week.

The dollar index, which measures the performance of the US currency against six other currencies, rose 0.1 percent to 107.58, remaining close to the lowest level in a month that it touched last week.

The Mexican peso, a measure of tariff concerns, fell about 1 percent to 20.48 to the dollar, while the Canadian dollar fell 0.4 percent to 1.44 to the dollar.

The euro fell 0.2 percent to $1.0474. The British pound recorded $1.2446 in the latest trading. The yen was trading at 155.88 to the dollar.

On the other hand, Bitcoin, the most famous cryptocurrency in the world, fell to its lowest level in a week and a half at $97,810.50, but remained close to the highest record level of $109,071.86 that it touched last week.