According to the last trading day, the gold price fell by 1 per cent in the initial session
The price of gold reached a two-and-a-half-year low on Monday. The main reason for this believed is continuous strengthening of the dollar fall in rupee. Gold saw a decline of 0.3 per cent and it reached USD 1637.85 an ounce.
According to the last trading day, the gold price fell by 1 per cent in the initial session and reached near USD 1626.41, which is the lowest level since April 2020. US gold futures also saw a decline and fell 0.6 per cent to USD 1645.00. The dollar index saw a fresh increase and after 2002 it is seeing a big increase. Due to the rise in British sterling, the dollar index is also seeing strength.
Silver on Monday fell 1.6 per cent to USD 18.54 an ounce, having hit its lowest level in more than two weeks. Platinum rose 0.5 per cent to USD 858.40 and palladium rose 0.9 per cent to USD 2,084.79.