Gold Prices Fall More Than 1% after Rising to the Highest Level

  • International
  • 7 May 2025
1

Spot gold fell 2 percent to $3,361.57 an ounce, a day after climbing to a two-week high, supported by purchases from China after a long holiday and concerns about possible U.S. tariffs on drug imports, while investors await the outcome of the U.S. Federal Reserve meeting.

U.S. gold futures rose 3 percent to $3,422.8 at settlement. Safe-haven gold has hit several unprecedented highs this year amid market tension over tariffs. Attention is turning to the Fed's interest rate decision and Chairman Jerome Powell's comments seeking clues about the course of monetary policy.

Source (Al-Khaleej Emirati Newspaper, Edited)

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