Gold’s luster fades in the face of the strength of the dollar and rising oil prices

Gold fell slightly today, under pressure from the rise in the dollar and oil prices, while investors await US President Donald Trump’s decision regarding the proposed agreement to extend the ceasefire with Iran.

Gold in instant transactions fell 0.2 percent to $4,527.36 per ounce by 01:56 GMT, after rising to its highest level in two weeks in the previous session.

US gold futures fell 0.8 percent to $4,558.10.

The dollar rose, which increased the cost of gold priced in the US currency for holders of other currencies.

Oil prices rose by more than two percent in early trading on Monday, raising concerns about inflation.

As for other precious metals, silver rose in spot transactions 0.4 percent to $75.54 per ounce, platinum increased 1 percent to $1,935.65, and palladium rose 1.3 percent to $1,371.24.