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Forex

Dollar Strengthens Gold Prices Ahead of Federal Reserve Decision

Guavy AI Editorial Team
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USD
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Gold prices fell on Tuesday as the dollar strengthened ahead of the Federal Reserve's policy decision. The Fed's upcoming announcement is expected to provide clues about the interest rate outlook.

Singapore, July 28 - Spot gold dropped by 0.7% to $4,044.81 per ounce after rising as much as 1% on Monday. US gold futures for August delivery also lost 0.8% to $4,045.40.

Other precious metals were not spared from the decline either. Spot silver fell by 1.9% to $57.30 per ounce, platinum lost 1% to $1,605.14, and palladium slid 1.6% to $1,271.09.

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