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Gold prices drop

2021-11-12T07:38:15.131Z


London, SANA- Gold prices fell today under the pressure of the dollar’s ​​strength, but it is heading towards recording the largest weekly jump in six years


London-Sana

Gold prices fell today under pressure from the dollar's strength, but they are heading towards recording the largest weekly jump in six months, with concerns about the rise in consumer prices in the United States that led to the demand for the yellow metal as a hedge in the face of inflation.

Reuters reported that spot gold fell 0.3 percent to $1856.20 an ounce, after it jumped to a five-month peak on Wednesday, and US gold futures fell 0.3 percent to $1857.90.

The dollar index rose to its highest level since July 2020, which put pressure on gold by increasing its cost to buyers of other currencies.

As for other precious metals, silver fell in spot transactions 0.5% to $25.10 an ounce, platinum fell 0.4 percent to $1081.90 an ounce, and palladium fell 0.5% to $2048.91 an ounce.

Source: sena

All business articles on 2021-11-12

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