Gold fell as the US dollar rose
Gold prices fell on Tuesday, as spot gold contracts fell by 0.08% to $1,936 per ounce. On the other hand, the US dollar index rose by 0.3% to 104.367 points.
This decline in gold prices comes after the rise in the US dollar index, which reflects the strength of the dollar against six other major currencies. The US dollar is a safe haven currency, which means it tends to rise in times of economic uncertainty.
Trading in financial markets was also somewhat quiet today, as investors await further signs on the path of the US Federal Reserve’s monetary policy following a widely expected interest rate pause this month.
