Gold falls to its lowest level in 7 months due to the strong dollar

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and landed gold In spot transactions, 0.2 percent to $ 1760.90 an ounce by 1053 GMT, after declining by about 2.6 percent on Tuesday. And US gold futures fell 0.3 percent to $1,759.00 an ounce.

The price rose dollara competitor to gold as a safe haven for value, is approaching its highest levels in 20 years, making dollar-denominated gold less attractive to buyers in other currencies.

And gold faced the effects of lifting interest rates and bond yields globally, which increases the opportunity cost of acquiring the metal.

Major central banks raised interest rates by more in June than they had in the past 20 years, according to Archyde.com. With inflation still rising to its highest levels in decades, the rate hike is not expected to stop this year.

For other precious metals, it decreased Silver In spot transactions, 0.2 percent to $19.15 an ounce, and platinum fell 0.9 percent to $867.71. And palladium rose 0.8 percent to 1947.82 dollars.

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and landed gold In spot transactions, 0.2 percent to $ 1760.90 an ounce by 1053 GMT, after declining by about 2.6 percent on Tuesday. And US gold futures fell 0.3 percent to $1,759.00 an ounce.

The price rose dollara competitor to gold as a safe haven for value, is approaching its highest levels in 20 years, making dollar-denominated gold less attractive to buyers in other currencies.

And gold faced the effects of lifting interest rates and bond yields globally, which increases the opportunity cost of acquiring the metal.

Major central banks raised interest rates by more in June than they had in the past 20 years, according to Archyde.com. With inflation still rising to its highest levels in decades, the rate hike is not expected to stop this year.

For other precious metals, it decreased Silver In spot transactions, 0.2 percent to $19.15 an ounce, and platinum fell 0.9 percent to $867.71. And palladium rose 0.8 percent to 1947.82 dollars.

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