Gold continues to decline with the recovery of the dollar and new hints from the Federal Reserve
Gold prices fell for the fourth session in a row, today, Tuesday, affected by the strength of the dollar and the decline in the possibility of a cut in US interest rates next month.
The price of gold fell in Other precious metals: Silver prices in spot transactions fell 1.2% to $49.58 per ounce, platinum lost 1% to $1517.73, and palladium lost 1.5% to $1372.05.
Meanwhile, the US dollar stabilized against competing currencies after a sharp rise in the previous session, and the rise in the dollar leads to an increase in the cost of gold for holders of other currencies.
/>Edward Mayer, an analyst at Marex, said: "The dollar witnessed slight strength today, some periods of speculation declined over the past week, and the gold market is expected to witness stability at the present time."
Vice Chairman of the US Federal Reserve, Philip Jefferson, said yesterday, Monday, that the central bank needs… "Go slowly" In reducing Interest rates were higher, which reduced expectations of a reduction next December.
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