Gold prices fell by more than one percent on monday as the dollar rose:old prices fell by more than one percent on Monday as the dollar rose, while uncertainty about peace negotiations between the United States and Iran pushed oil prices higher and renewed concerns about inflation. Gold prices have been fluctuating due to global economic conditions and geopolitical tensions.
According to Yemen News Agency, spot gold fell 1.4 percent to $4,762.09 per ounce after dropping to its lowest level since April 13 earlier in the session. Similarly, U.S. gold futures for June delivery fell 2 percent to $4,781.90. The strengthening of the dollar index contributed to the increase in the cost of gold priced in the U.S. currency for holders of other currencies, affecting the overall demand for the precious metal.
As for other precious metals, the market saw a decline as well. Spot silver fell 1.7 percent to $79.42 per ounce. Platinum experienced a decline of 0.8 percent, reaching $2,086, while palladium also fell by 0.8 percent to $1,547.10. These declines reflect the broader impact of the dollar's rise and ongoing economic uncertainties.