Gold prices touched five-month lows as the dollar and U.S. Treasury yields gained momentum after recent strong economic data boosted expectations that the Federal Reserve will continue to tighten monetary policy.
The price of gold in the spot market reached $ 1891.70 an ounce (ounce), recording its lowest level since March 15. U.S. gold futures fell 0.3 percent to $1,921.80 an ounce. The minutes of the Federal Reserve's meeting showed that "most" of the bank's policymakers still prioritize fighting inflation as well as the economic risks of raising interest rates too high.
Source (Al-Rai Kuwaiti Newspaper, Edited)
