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The price of gold falls this Monday, May 9, 2022 due to the pressure exerted by a high dollar on the demand for green-priced bars. Also, rising U.S. Treasury yields are weighing on prices.
The dollar has strengthened against its rivals, making the green-priced ingot less attractive to holders of other currencies. Spot gold was down 0.4% to $1,874.89 an ounce, at 0252 GMT, while U.S. gold futures also slipped 0.4% to $1,874.80.
Castainment slid 0.5% to $22.23 per ounce, platinum 1.6% to $948.00 and palladium 0.4% to $2,038.58. Concerns about demand dragged palladium down more than 8% on Friday, to its lowest level since January.
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