Gold falls to its lowest level with the rise of the dollar

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Gold prices fell to their lowest levels in a month as they were affected by the rise of the dollar and the uncertainty surrounding an agreement for a new stimulus package in the United States.

At the end of the trading session, gold was in the spot transactions, down 0.5 percent at 1867.30 dollars an ounce, after falling earlier in the session to 1858.92 dollars, the lowest level since the twenty-eighth of September.

And US gold futures fell 0.6 percent to record at the settlement at $ 1868.00 an ounce.

The dollar index rose 0.7 percent to its highest level in nearly two months against its rivals, which makes gold more expensive for holders of other currencies.

Gold, which is often used as a safe store of value during times of political and financial turmoil, has registered gains of 24 percent this year amid unprecedented global levels of stimulus during the pandemic.

On the other hand, data showed that the US economy expanded at a record high pace in the third quarter, and the latest weekly jobless claims fell more than expected.

Among other precious metals, silver fell 0.43 percent to $ 23.30 an ounce, while platinum fell 2.13 percent to $ 848.19, and palladium fell 1.95 percent to $ 2,194.00.

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