Forex
Dollar Strength Sinks Gold Prices Amid Fed Rate Expectations
Gold prices took a hit in Asian trading on September 25, as investors opted for the US dollar over the precious metal. The stronger dollar made dollar-denominated metals more expensive for holders of other currencies.
The price of spot gold fell by 0.2% to $4,270.40 per ounce, with a weekly decline of over 2%. In contrast, US gold futures rose by 0.2% to $4,304.80.
Other precious metals were also affected, with spot silver dropping 0.5% to $63.58 and palladium plummeting 1.3% to $1,257.70. However, platinum remained steady at $1,749.61.