Forex
Gold Prices Slump as Stronger Dollar Dampens Bullion Demand
Gold prices fell by 0.2% on Monday after reaching a seven-week high due to the strength of the US dollar, which makes gold less attractive to foreign buyers.
The US dollar index rose above 99.65, its highest level in over a week, amid heightened uncertainty surrounding the US-Iran situation.
The US dollar's rise as a safe-haven asset puts downward pressure on gold prices, making it more expensive for holders of other currencies.