Gold is at its lowest level in 7 months
New York, June 24 / WAM / Gold prices today recorded their lowest level in more than seven months, affected by the rise of the dollar and expectations of a rise in…
US interest rates. Gold in spot transactions fell 2.5 percent to $4,006.29 an ounce by 1540 GMT, recording the lowest level since November. Gold prices reached their peak at $5,594.82 in late January in spot transactions, and have since lost more than $1,500 per ounce.
US futures contracts fell three percent to $4,023.30 per ounce. The dollar rose, which increased the cost of gold for buyers who hold other currencies. The rise in interest rates reduces the attractiveness of gold, which does not generate a return. As for other precious metals, silver fell in spot transactions
Five percent to $58.96 per ounce, recording its lowest level since December 2025. Platinum fell four percent to $1,586.55, and palladium fell.
5.2 percent to $1,173.23.
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