
- Select a language for the TTS:
- UK English Female
- UK English Male
- US English Female
- US English Male
- Australian Female
- Australian Male
- Language selected: (auto detect) - EN
Play all audios:
Gold prices fell nearly 1% on Monday after rising to an all-time high in the previous session, as the U.S. dollar strengthened on mounting fears of a global trade war following U.S.
President Donald Trump's sweeping tariff measures. Sven Hoppe | Picture Alliance | Getty Images Gold was near a more than three-week low on Thursday, dragged by a robust dollar and
elevated bond yields, while investors remained cautious ahead of July U.S. nonfarm payrolls data. Spot gold was flat at $1,933.80 per ounce by 2:34 p.m. EDT (1834 GMT), after hitting its
lowest since July 11. U.S. gold futures settled 0.3% lower at $1,968.80. The dollar rose to a four-week high, making gold more expensive for other currency holders. U.S. 10-year Treasury
yields rose to their highest since November. "There is a lot of focus heading into the jobs numbers tomorrow, especially as we've had some stronger data lately, which has weighed
on the sentiment and sort of fuelled the idea that the Fed may have to keep the higher rates for longer," said Ryan McKay, commodity strategist at TD Securities. Data on Wednesday
showed U.S. private payrolls increased more than expected in July, pointing to continued labor market resilience. The U.S. jobs report due Friday could influence the Federal Reserve's
policy stance. The number of Americans filing new claims for unemployment benefits rose slightly last week. Rising U.S. interest rates increase the opportunity cost of holding non-yielding
bullion. "Gold prices could drift down towards the $1,900 level, but there is probably strong support there as well, just because we are certainly getting towards the end of the hiking
cycle," McKay said. Earlier in the day, the Bank of England raised its key interest rate by a quarter of a percentage point to a 15-year peak. While investors digested Fitch's
downgrade of the U.S. credit rating, independent analyst Ross Norman said gold's failure to rally on that news may be behind redemptions seen in gold exchange-traded funds. Silver
slipped 0.7% to $23.57 an ounce and platinum fell 0.7% to $914.66, both near three-week lows. Palladium gained 0.8% to $1,252.62.