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Gold falls further on stronger dollar, easing geopolitical tensions

Gold prices fell to their lowest in more than a week due to a stronger dollar and reports of a potential Israel-Hezbollah ceasefire, dampening safe-haven demand. Spot gold was down 0.2% at $2,621.06 per ounce, while U.S. gold futures edged 0.1% higher to $2,621.10. The dollar rose against major peers after U.S. President-elect Donald Trump threatened Canada and Mexico with a 25% tariff on all imports into the United States, reducing gold's appeal for holders of other currencies. Traders will closely monitor U.S. consumer confidence data and minutes of the Fed's November meeting due later in the day.

Original article source: https://www.dailymail.co.uk/wires/reuters/article-14125649/Gold-falls-stronger-dollar-easing-geopolitical-tensions.html
Source Id: 2024-11-556982468

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