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Gold near the lowest level in two and a half years as the dollar rises

2022-09-26T17:53:35.178Z

London, SANA- Gold prices fell to their lowest level in two and a half years today, affected by the rise in the dollar, and a decline in prices



London-Sana

Gold prices fell to their lowest level in two and a half years today, weighed down by a stronger dollar, and US Treasury yields.

And Reuters reported that the price of gold in spot transactions fell 0.1 percent to $ 1641.59 an ounce, after it fell one percent earlier in the session to its lowest level since 2020 at $ 1626.41.

US gold futures fell 0.6 percent to $1,648.80.

The dollar index, which measures the performance of the US currency against six major currencies, rose to its highest level since 2002, supported by the decline of the pound sterling.

Gold prices have fallen by more than $400, or 20%, since breaking the main limit of $2,000 an ounce last March, as major central banks raised interest rates sharply to curb spiraling inflation.

As for other precious metals, the price of silver in spot transactions fell 0.5% to $ 18.74 an ounce, after it fell earlier in the session to its lowest level in more than two weeks.

The price of platinum rose 0.1 percent to $ 854.93 an ounce, and the price of palladium rose 0.3 percent to $ 2073.67.

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Source: sena

All business articles on 2022-09-26

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