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Gold Prices Fall As Hopes For Interest Rate Cuts Fade
(MENAFN- Gulf Times) Gold prices fell Monday, pressured by a stronger dollar and fading hopes for a Federal Reserve interest rate cut, as well as rising oil prices amid concerns about a prolonged Iran war and stronger-than-expected US jobs data gold fell 0.9 percent to $4,631.69 an ounce, while US gold futures for April delivery dropped 0.5 percent to $4,657.50 in thin trading as many markets in Asia and Europe were closed for holidays for other precious metals, spot silver fell 1.4 percent to $71.98 an ounce, spot platinum declined 0.9 percent to $1,970.38, while palladium held steady at $1,503.52.
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