Gold prices fell today, recording the longest series of monthly losses since 2018, as they came under pressure from large interest rate increases from major central banks around the world.
And gold fell in spot transactions 0.66 percent to $ 1711.70 an ounce, heading towards ending the month of August with a loss of about 3 percent in the fifth consecutive month of declines.
And US gold futures fell 0.6 percent, to settle at $ 1726.20 an ounce.
Gold is a safe investment in times of economic and geopolitical crises, but high interest rates make the non-yielding yellow metal less attractive to investors.
Among other precious metals, silver fell in spot transactions 2.60 percent to $ 18.01 an ounce, raising its losses over this month to 11 percent and recording the largest monthly decline since September 2020. Platinum also fell 0.58 percent to $ 842.60, while palladium fell 0.7 percent to $2,072.50.