Saturday , March 6 2021

Gold withdrew to the lowest price per month as the dollar strengthened



Gold fell to one month low when the dollar strengthened according to expectations that the central bank would tighten borrowing costs.
Spot 0746 GMT's gold dropped by 0.3 percent to $ 1205.86 after an ounce of a one-month low $ 1205 rise earlier in the session.
Harish V. "The dollar is gaining momentum as a result of last week's Fed meeting and the US economy's positive pressures, which put pressure on non-profitable assets like gold," he said.
The dollar's index, which measures the strength of the dollar against six major currencies, rose by 0.5 per cent. Your currency rose to 16 months higher at the previous session, which added gold costs to other currencies.
The Fed reiterated its plan to raise interest rates in December and raise them twice more in mid-2019, with strong economic performance and wage rises.
Silver rose 0.1 percent to $ 14.17 per ounce. During the previous session, metal dropped to its lowest level after September 18 to $ 14.06.
Palladium fell 0.2 percent to $ 1113.92 per ounce and platinum fell 0.1 percent to $ 848.50 an ounce.


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