Gold prices fall amid slight rise in US dollar

21/07/2023 Argaam

Gold prices declined today, July 21, but they are heading for recording the third straight weekly gains.

 

This came amid a rise in the US dollar as the Federal Reserve is expected to increase the interest rate in the next meeting this month.

 

Gold prices for August delivery fell 0.24%, or $4.8, to $1,966.1 an ounce at 10:13 am Makkah time.

 

Spot prices decreased 0.3%, or $5.98, to $1,963.55.

 

Silver futures for September delivery fell 0.15% to $24.93 per ounce, and spot platinum prices stabilized at $959.63.

 

The dollar index, which measures the performance of the US currency against a basket of six major currencies, rose 0.12% to 101 points.

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