Gold falls on stronger U.S. dollar

By Xu JingUnreguser
  • World
  • Tuesday, 31 Jan 2023

CHICAGO, Jan. 30 (Xinhua) -- Gold futures on the COMEX division of the New York Mercantile Exchange fell on Monday as the U.S. dollar strengthened.

The most active gold contract for April delivery fell 6.4 U.S. dollars, or 0.33 percent, to close at 1,939.2 dollars per ounce.

Gold was also on profit taking after posting weekly gains over the last six consecutive weeks.

The Federal Reserve's two-day monetary policy meeting will conclude Wednesday. Investors are expecting a 25 basis point interest rate hike and a policy statement, followed by Feb Chair Jerome Powell's news conference.

The European Central Bank and Bank of England are also set to meet this week.

Silver for March delivery rose 11.1 cents, or 0.47 percent, to close at 23.733 dollars per ounce. Platinum for April delivery rose 3.8 dollars, or 0.37 percent, to close at 1,020.6 dollars per ounce.

Article type: free
User access status:
Subscribe now to our Premium Plan for an ad-free and unlimited reading experience!

Next In World

Greta Thunberg, climate activists get court nod to sue Swedish state
After harmony, Spanish government's ties to business hit discordant note
Russia flies strategic bomber planes near Japan as its PM visits Ukraine
London police institutionally racist and sexist, major review finds
Analysis-Some new faces but old divisions to haunt Thailand's May election
Thailand to hold election on May 14 - poll body
Pakistan's parliament summoned in midst of crisis over former PM Khan
One killed, six injured in Kenya protests, police say
'Weakened' Macron consults allies on next steps after tight no-confidence vote
Russia says coordinates meeting with Turkey, Syria, Iran officials - RIA

Others Also Read