Gold dips amid higher dollar

Gold prices fell today, Tuesday, affected by the strength of the dollar, while investors monitor the continued attempts to reach an agreement to end the debt ceiling crisis in the United States.

According to “Reuters”, gold fell in spot transactions by 0.4 percent, to $ 1962.06 an ounce, by 0306 GMT. US gold futures also fell 0.6 percent to $1,965.70.

The strength of the dollar makes gold less attractive to buyers abroad

US President Joe Biden and House Speaker Kevin McCarthy were unable to reach an agreement on Monday on how to raise the federal government’s $31.4 trillion debt ceiling, just 10 days before a possible slump that could throw the economy into chaos. But they vowed to continue the talks

As for other precious metals, spot silver fell 0.5 percent to $23.55 an ounce, palladium fell 0.4 percent to $1485.59, while platinum settled at $1066.59.