Gold prices continue to fall under pressure from the dollar and declining hopes for a rate cut

Gold prices fell, today, Monday, by more than 1% in weak trading, under the pressure of growing tensions between the United States and Iran, which increased concerns about inflation and reduced expectations for a reduction Interest rates, while the rise in the US dollar also pressured precious metal prices.

The The price of gold in spot transactions rose by 1.3%, reaching $4,553.53 per ounce, by 11:40 GMT, while US gold futures (June delivery) fell by 1.7%, reaching $4,565.40.

In other precious metals, the price of silver fell by 3.1%, to $73.04 per ounce, and platinum lost. The US dollar depreciated slightly against other currencies, making dollar-denominated precious metals more expensive for holders of other currencies.

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