Gold falls as the dollar rises and hopes for a U.S. interest rate cut fade
Photo - M.A.N.
Gold prices fell on Thursday under pressure from a rising dollar, while rising oil prices renewed concerns about inflation and dampened hopes for interest rate cuts in the near term.
By 05:45 GMT, the price of gold in spot trading fell 0.4% to $5,153.79 per ounce, and U.S. gold futures for April delivery dropped 0.4% to $5,159.20.
The dollar rose 0.2%, making gold priced in U.S. dollars more expensive for holders of other currencies.
As for other precious metals, the spot price of silver fell 0.5% to $85.33 per ounce. The price of platinum in spot trading fell 0.3% to $2,162.24, but palladium rose 0.3% to $1,642.05.
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