Gold down slightly due to concerns about interest rates

Gold prices fell slightly today, Friday, as investors worried that stronger-than-expected recent US economic data may prompt the Federal Reserve to continue raising interest rates for a longer period.

According to “Reuters”, gold fell in spot transactions by 0.1 percent, to $ 1821.80 an ounce, by 0745 GMT. While US gold futures rose 0.2 percent to $1,831.00.

It is likely that gold will fall for the fourth week in a row, and it fell by about 1 percent during this period

Thursday’s data showed revised US gross domestic product increased 2.7 percent year-on-year in the previous quarter. While the number of Americans filing new applications for unemployment benefits fell unexpectedly last week.

Separately, the data showed an increase in the personal consumption expenditures price index in the fourth quarter, 3.7 percent, after adjusting from the previous estimate of 3.2 percent.

Thursday’s reports are the latest in a series of data that raised concerns about keeping interest rates at high levels for a longer period

The dollar index was little changed, making bullion more expensive for buyers abroad

As for other currencies, silver in spot transactions fell 0.5 percent to $21.19 an ounce, platinum fell 0.3 percent to $944.32, and palladium fell 0.8 percent to $1438.19 an ounce.