Gold prices fell, affected by the rise in the dollar


Gold prices fell today, affected by the rise in the dollar, as investors cautiously await the Federal Reserve (US Central Bank) decision to raise interest rates later this week.
By 05:31 GMT, spot gold fell 0.5% to $1980.42 an ounce, and US gold futures fell 0.5% to $1989.10.
The dollar index rose 0.2%, making the dollar-denominated metal too expensive for buyers abroad.
Gold prices rose by more than 1 percent last April, with renewed concerns about US banking turmoil that prompted investors to turn to safe assets.
Expectations are rising that the European Central Bank will raise interest rates at its meeting next Thursday for the seventh time in a row.
As for other precious metals, silver rose 0.1%, recording $25.06 an ounce, while platinum fell 0.7% to $1066.56, and palladium fell 0.4% to $1495.06.

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