A sharp decline in gold and silver prices, losing 8% under the pressure of the dollar and interest expectations

Gold prices fell sharply at the end of trading on Tuesday, closing down approximately 4.5%, affected by the strength of the US dollar and rising prices Oil, and hopes of reducing US interest rates in the near future declined.

And The US dollar has recovered against other major currencies, making dollar-denominated bullion more expensive for holders of other currencies. Tu Lan Nguyen, an analyst at the German Commerzbank, said that the decline in gold reflects the markets’ greater focus on the inflationary risks resulting from the war in the Middle East, and the consequent raising of interest rate expectations, which explains the continued strength of the dollar.

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