Gold prices fell today, with the stability of the dollar, but the prolonged discussions about raising the US debt ceiling, which stalled, and the statements of Jerome Powell, Chairman of the Federal Reserve (US Central Bank) about slowing the pace of raising interest rates, limited the yellow metal’s incurring more losses.
Gold fell in spot transactions 0.2% to 1971.79 dollars an ounce, and US gold futures fell 0.3% to 1975.00 dollars an ounce..while the dollar index rose 0.1%, which makes gold more expensive for buyers abroad.
As for other precious metals, silver fell in spot transactions by 0.9%, to $23.62 an ounce. Platinum also fell 0.4%, to $1,058.62, and palladium lost 0.5%, recording $1,505.56.
The White House announced last night that there were “serious” differences in the negotiations to raise the US debt ceiling, recognizing that talks with the Republicans will remain difficult as the two sides seek to reach an agreement that avoids Washington defaulting on its debt.
