Gold Falls as the Dollar Rises ahead of “Fed's Decision”

  • International
  • 13 June 2023
1

Gold prices fell, with the dollar and US bond yields rising, as traders await a busy week that sees the release of inflation data in the United States, and the US Federal Reserve's decision on interest rates.

Spot gold fell 0.5 percent to $1,951.40 an ounce. (U.S. gold futures fell 0.6 percent to $1,965.80.

The dollar rose 0.1 percent, pushing the price of gold, priced in the U.S. currency, ahead of buyers around the world, while a slight rise in U.S. bond yields made the yellow metal, which does not yield a yield, less attractive.

Source (Alkhaleej Emirati Newspaper, Edited)

Related News

Get an annual subscription in the quarterly Arab Economic bulletin

SUBSCRIBE NOW