Gold prices fell Monday, August 115, as the dollar rebounded, amid expectations that the Federal Reserve would raise interest rates sharply, adding to pressure on the yellow metal.
And gold fell in spot transactions 0.6% to $ 1791.33 an ounce, following rising by regarding 1.6% last week.
US gold futures fell 0.5% to $1,807.30.
The dollar erased earlier losses, rising 0.2% once morest its rivals, making gold more expensive for buyers holding other currencies.
Investors are awaiting the minutes of the Federal Reserve’s latest monetary policy meeting scheduled for release on Wednesday for further clues to a future rate hike.
Although gold is considered a hedge once morest inflation, rising US interest rates limit the attractiveness of the non-yielding yellow metal.
As for other precious metals, silver fell in spot transactions by 1.2 percent to $ 20.57 an ounce, and platinum fell 1.3 percent to $ 950.37, while palladium settled at 2222.23
dollar.
