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Strong dollar pushes gold to lowest level in 3 weeks

Strong dollar pushes gold to lowest level in 3 weeks

Update prices

And it went down gold In spot transactions, it rose 0.1 percent to $2,656.34 per ounce, at 0327 GMT, after reaching its lowest level since October 15 earlier in the session.

Gold hit a record high of $2,790.15 last week and has lost more than $130 since then.

Gold futures in the United States fell 0.5 percent to $2,663.60.

And meat is an indicator Dollar It is near a four-month high, making gold more expensive for buyers who hold other currencies.

And he came back Trump To the White House with a landslide victory yesterday, Wednesday, but that raised questions about whether the Federal Reserve might move forward with lowering interest rates at a slower and less severe pace.

Traders expect a 25 basis point cut, which will likely be announced at the end of the bank meeting American Central Bank Later in the day, also focusing on Chairman Jerome Powell’s statement for any signals on the path of future interest rate cuts.

Gold is a safe haven from geopolitical and economic uncertainty, but high interest rates raise the opportunity cost of holding the yellow metal, which does not generate a return.

In terms of other precious metals, it decreased Silver In spot transactions, it rose 0.4 percent to $31.03 per ounce and declined Platinum 0.3 percent to $983.73 and fell Palladium 0.7 percent to $1,028.25. The three metals fell for the second session in a row, according to Reuters data.



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