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Gold market: investors are waiting for interest rate clues

21/06/2023
Categories: Raw materials

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Gold has weakened in the run-up to U.S. Federal Reserve Chairman Jerome Powell's congressional testimony. Investors are waiting for interest rate clues.

The price of gold fell slightly due to the rise of the dollar on Wednesday. Spot gold fell 0.2% to $1,932.86 per ounce, trading in a range of $8 as of 0915 GMT. U.S. gold futures were also down 0.2 percent to $1,944.20. The dollar rose by 0.1%, making gold more expensive for foreign currency holders

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Spot silver fell 0.7% to $23.02 per ounce, platinum fell 1.3% to $950.33, while palladium fell 2.1% to $1,351.31.

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