Gold declines 1% with the rise of the dollar and anticipation of the US Federal Reserve candidate session
Gold prices continued to decline, today, Tuesday, affected by the rise in the value of the dollar, in light of the continued uncertainty regarding the peace talks between the United States and Iran, and the anticipation of a decisive hearing for the US Federal Reserve presidential candidate, Kevin Warsh, before the Senate.
And Gold price in spot transactions rose by approximately 1% to $4,781.56 per ounce by 14:01 GMT, and US gold futures (June delivery) also fell by 0.5% to $4,804.70.
In other precious metals, the spot price of silver fell 1.2% to $78.94 per ounce, and platinum lost 1% to 2068.32 dollars, while the price of palladium rose by 0.3% to 1555.41 dollars.
On the other hand, the The US dollar rose on Tuesday, making dollar-denominated bullion more expensive for holders of other currencies.
In the United States, the nominee to head the Federal Reserve, Kevin Warsh, is preparing to appear before the Senate to confirm his appointment to his position, while prepared statements indicate that he will confirm "Commitment to ensuring the complete independence of monetary policy management"
The hearing is scheduled to begin at 2 pm GMT, today, Tuesday.
On the political level, the United States expressed its confidence in the continuation of peace talks with Iran in Pakistan, and a high-ranking Iranian official said that Tehran is considering joining them, but major obstacles and a state of uncertainty remain as the end of the truce approaches.
On Tuesday, the Iranian Ministry of Foreign Affairs condemned the United States for what it described as an attack on Iranian merchant ship "Tosca" over the weekend, demanding her immediate release.
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