An ounce of gold fell to $ 1848, reflecting the strength of the dollar

Gold prices fell to a one-week low on Friday, weighed down by a stronger dollar after US Federal Reserve member Christopher Waller called for less economic support to help chart a path towards tighter monetary policy.

golden lodge In spot transactions from 0.6% to 1848.05 dollars an ounce US gold futures fell 0.5% as they stabilized at $ 1851.60.

The dollar index rose 0.5% against other major currencies, which increases the cost of gold – which pays no interest – for holders of other currencies.

Waller said the U.S. central bank should increase the pace of the reduction in its bond purchases to allow for more room to raise interest rates from their close to highs. zero.

Gold is heavily impacted by the rise in US interest rates, as the rise increases the cost of holding the precious metal. As for the other precious metals, silver fell 0.6% to $ 24.63 an ounce.

Platinum fell 1.8% to $ 1028.74 an ounce and Palladium fell 3.4% to $ 2060.24 an ounce.

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