Gold futures fell $12.20 to open the week

Gold futures prices fell today under pressure from the appreciation of the dollar, and concerns about the acceleration of interest rate hikes by the U.S. Federal Reserve (Fed)

  • Gold futures fell $12.20, or -0.74%, to $1,643.40 an ounce.

The dollar index rose 0.66% this morning against the six major currencies in a basket of currencies to 113.8600. The strength of the dollar has made gold contracts denominated in dollars more expensive for investors holding other currencies.

Investors expect the Fed to raise interest rates by 0.75% at its monetary policy meeting in November and by 0.50% in December.

If the Fed raises rates as expected, it will raise rates for the fourth consecutive time by 0.75%.

The Spot Market is Open

Monday, September 26, 2022

Metals
Updated at
USD
Bid/Ask
Ounce
Change

Low/High
Gold
19.50
1,646.70
1,647.70
+2.30
+0.14%
1,627.00
1,651.30
Silver
19.50
18.86
18.96
+0.04
+0.19%
18.44
18.97
Platinum
19.50
864.00
874.00
+10.00
+1.17%
848.00
878.00
Palladium
19.40
1,990.00
2,140.00
-13.00
-0.65%
1,967.00
2,181.00
Rhodium
05.00
12,500.00
14,500.00
0.00
0.00%
12,500.00
14,500.00

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