June 16, 2022 09:30
Gold prices fell on Thursday, with the dollar recovering slightly after a large but widely expected hike in US interest rates led to a significant decline in the dollar in the previous session.
By 0235 GMT, spot gold fell 0.1 percent to $1,831.63 an ounce, while US gold futures rose 0.8 percent to $1,833.40 an ounce.
An increase in US interest rates in the short term and an increase in the yield on Treasury bonds increases the opportunity cost of holding non-interest-bearing gold.
On Wednesday, the US central bank raised the interest rate by 75 basis points, the highest level in more than 25 years, to curb the increase in inflation.
As for other precious metals, silver in spot transactions rose 0.1 percent to $21.67 an ounce. Platinum rose 0.2 percent to $940.98 an ounce. And palladium rose 0.5% to $ 1870.79 an ounce.
Source: agencies
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