Urgent: The lowest level in two weeks… Gold prices decline more than 2%

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Urgent: The lowest level in two weeks… Gold prices decline more than 2%

continued decreased today after recording their largest daily decline since 2020 in the previous session.

And in spot transactions (2.6%) to ($4,017.29) per ounce, reaching its lowest level in nearly two weeks, after rising to ($4,161.17) earlier in the session.

Gold Prices

US gold futures contracts for December delivery fell (1.9%) to ($4,032.80) per ounce. The dollar index rose (0.2%) to reach its highest level in a week, which increased the cost of the dollar-denominated precious metal.

And (5.3%) yesterday, Tuesday, after recording its highest level ever at ($4,381.21) in the previous session.

Precious Metals

Gold prices have risen (54%) since the beginning of this year, supported by the state of geopolitical and economic uncertainty, expectations of lowering US interest rates, and strong inflows from exchange-traded funds.

For For other precious metals, the price of silver in spot transactions fell (1.8%) to ($47.84) per ounce.

The price of silver fell (7.1%) yesterday, Tuesday. Platinum decreased (1.4%) to (1530.35) dollars, and palladium decreased (1.2%) to (1391) dollars.