Gold Price at lowest level in 2 months - Economist

"Gold prices" fell to their lowest level in two months during trading on Tuesday, September 28, due to the rise in the dollar and US Treasury bond yields, which led to a decrease in demand for the "yellow metal", while investors are also waiting for policy indications from the Federal Reserve Chairman's speech.

And the “gold price” in spot transactions recorded its lowest level at 1735.40 dollars per ounce, and it was down by 0.9%, and in the same context, gold prices in US futures contracts fell by 0.5% and its price reached 1742.40 dollars.

One of the reasons for the decline in the price of gold was the rise in US Treasury yields for the fourth consecutive day to the highest level in more than three months, and the dollar index rose 0.2%, making gold more expensive for holders of other currencies.

As for other precious metals, silver prices fell by 1.3% to $22.35 an ounce, and platinum metal fell 0.5% to $975.23, while palladium fell 1% to $ 1945.98.