Gold declines 0.3% with the rise of the dollar and the possibility of raising interest rates #Urgent
Gold prices fell slightly today, Thursday, affected by the rise in US Treasury bonds and the strength of the dollar, while hopes for a solution to the US-Iranian conflict limited the decline of the precious metal to lower levels.
And The price of gold in spot transactions rose by 0.3% to $4,528.03 per ounce, by 06:11 GMT, and US gold futures (June delivery) also fell by 0.1% to $4,528.90.
In other precious metals, the price of silver fell 1.1% to $75.19 per ounce, and platinum lost 0.9% to reach 1933.13 dollars, and palladium fell 0.8% to 1359.20 dollars.
On the other hand, the The US dollar rose 0.1%, making dollar-denominated gold more expensive for holders of other currencies.
The 10-year US Treasury bond yield rose 1 basis point to 4.578%, resuming its rise after a 3-day pause in decline.
With regard to interest rates, markets are increasingly anticipating the possibility of the Federal Reserve tightening monetary policy this year, with a 39% chance of a rate hike of 25 basis points in December, according to the tool "Feed Watch".
The minutes of the Federal Reserve’s meeting in April showed that the majority of monetary policy makers believe that "Some tightening of monetary policy may become appropriate" If inflation remains above the central bank’s target of 2%.
- For more: Follow Khaleejion 24 Arabic, Khaleejion 24 English, Khaleejion 24 Live, and for social media follow us on Facebook and Twitter
