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.

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