2023-11-22T08:34:37+00:00
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/ Gold prices fell, on Wednesday, to less than $2,000 as the dollar stabilized after its decline over the past few days, but expectations that the Federal Reserve (US Central) had reached the end of the monetary tightening cycle limited the decline in gold prices.
Gold fell in spot transactions by 0.1 percent to $1,996.79 per ounce, after reaching its highest levels in three weeks to $2,007.29 in the previous session. US gold futures also fell 0.1 percent to $1,998.80.
The dollar consolidated against other major currencies after falling to its lowest levels in two and a half months in the previous session. A weak dollar would make gold less expensive for holders of other currencies.
Federal Reserve officials agreed at their last monetary policy meeting to proceed “cautiously” and raise interest rates only if progress in curbing inflation slows, according to the minutes of the meeting held on October 31 and November 1.
Regarding other precious metals, silver rose in spot transactions 0.3 percent to $23.79 per ounce, and the price of platinum stabilized at $931.34, while palladium fell 0.6 percent to $1,072.35.