Gold prices fall because of the dollar!

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Today, Friday, gold prices are heading for their first weekly decline in 5 weeks, as the rise of the dollar made the metal more expensive for holders of other currencies..

The price of gold in spot transactions settled at $1807.45 an ounce by 06:34 GMT; According to “Reuters”.

And gold has fallen by 0.2 percent since the beginning of the week, as US gold futures settled at $ 1806.20.

While the price of the dollar remained near its highest level in three and a half months against other major currencies, it is heading for the second weekly rise in a row..

“Reuters” quoted experts, saying that they “expect inflation to remain a major driver of gold prices in the coming months, and support prices in the near term.”“.

According to experts, “the decline in yields on US Treasuries, provided some support for gold“.

Silver also fell 0.2 percent to $ 25.40 an ounce, and is heading for a third weekly decline, and palladium rose 0.4 percent to $ 2727.94, and platinum settled at $ 1092.71.





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