Gold prices fell today, Wednesday, due to the rise in the value of the dollar and US Treasury bond yields, after the minutes of the Federal Reserve’s June monetary policy meeting confirmed expectations that interest rates would remain high for a longer period.
Spot gold prices fell 0.5 percent to $1916.49 an ounce by 1832 GMT, while US gold futures fell 0.1 percent to $1927.10 upon settlement.
The Federal Reserve agreed to keep interest rates unchanged during its June meeting, according to meeting minutes released on Wednesday, even as the bulk of the Fed predicted that further monetary tightening would eventually be needed.
As for other precious metals, spot silver rose 0.8 percent to $23 an ounce, while platinum fell 0.1 percent to $914.11, and palladium jumped one percent to $1,255.78.
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