Gold prices fall globally by 3.5%

Economy

6-11-2024, 21:42

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Followed by-INA
Gold prices fell to lowest levels in about three weeks during these moments of trading on Wednesday, affected by the rise of the dollar after Republican Donald Trump won the US presidency in an exceptional political comeback.

Gold investors also focused on the upcoming meeting of the Federal Reserve, as they look for signals about the pace of interest rate cuts. The prospect of interest rate cuts has supported the remarkable rise in gold this year.
The spot price of gold fell by 3.5% to $2,656 per ounce. Gold had reached an all-time high of $2,790.15 last Thursday.
As for gold futures, they fell by 3.3% to $2,662.