Gold prices are falling.. and the dollar’s decline limits losses

Gold prices are falling.. and the dollar’s decline limits losses
Gold prices are falling.. and the dollar’s decline limits losses
-

Gold prices fell today, Monday, as investors await US economic data this week, which may affect the Federal Reserve’s policy in the future, but the decline in the dollar limited the losses of the yellow metal.

The spot gold price fell 0.2% to $1922.58 an ounce by 0914 GMT.

Gold had jumped to its highest level since April 2022 on Friday. US gold futures also fell 0.2% to $1,924.10.

The dollar index fell 0.3%, which makes gold priced in US dollars attractive to holders of other currencies.

--

Gold is still at a strong level

“Gold is still at a strong level, having retreated from last week’s peaks… and it may gain more momentum, with the end of the central bank meetings scheduled for next week,” said Michael Hewson, chief market analyst at CMC Markets.

-

Investors are looking forward to the US GDP growth report for the fourth quarter on Thursday, and US personal spending data on Friday, ahead of the Federal Reserve meeting, scheduled for January 31 and February 1.

As for other precious metals, the spot silver price fell 0.9% to $23.73 an ounce, platinum fell 0.2% to $1041.75, and palladium rose 0.3% to $1731.57.

-

--

PREV Fruit and vegetable markets today, Monday, January 23… “Prices do not get old.”
NEXT Brazilian fighter smashes the face of an American (video)