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Metals: Gold prices down on Friday

24/03/2023
Source : ORISHAS FINANCE
Categories: Raw materials

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Due to a firmer dollar, the price of gold fell back into a price range today. Investors are digesting on their side the indices of the American central bank on a potential pause in its path of raising interest rates.

After two sessions of significant gains, spot gold was down 0.1% to $1,991.59 per ounce at 0344 GMT. U.S. gold futures also fell by 0.1% to $1,993.30. After the Federal Reserve signalled that it could pause further rate increases following the recent collapse of two American banks, the yielessless bullion, which is becoming more attractive in a low-interest rate environment, gained 2%.

Cash fell 0.2% to $23.07 per ounce, platinum fell 0.1% to $983.05, and palladium fell 0.3% to $1,425.75.

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