Gold Falls As Traders Assess the Prospect of A US Interest Rate Cut

  • International
  • 7 August 2024
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Gold prices fell on Wednesday, as the dollar and US Treasury yields rose. Traders await further clues to anticipate the size of the interest rate cut that the Federal Reserve may make in September.

Spot gold fell 0.2 percent to $2,385.60 an ounce. U.S. gold futures fell 0.3 percent to $2,425.30.

The recovery in US Treasury yields and the strength of the dollar are translating into some downward pressure on gold prices.

Source (Al Arabiya.net Website, Edited)