Dollar Strength Weighs on Gold and Silver Prices
International gold and silver prices declined on Thursday, closing lower for both assets. On the New York Mercantile Exchange, December gold futures dropped by 1.20 percent to settle at $4,407.30 per ounce, while December silver futures decreased by 5.42 percent to close at $64.927 per ounce.
The US dollar experienced a late trading increase, which may have contributed to the decline in precious metals prices. The dollar index rose by 0.23 percent to 99.048 at 15:00 (1900 GMT). In comparison, the euro decreased to $1.1613 from $1.1630 in the previous session.
The US dollar's appreciation against several major currencies may have influenced the decline in gold and silver prices. The dollar bought 154.32 Japanese yen, higher than 153.60 Japanese yen of the previous session.