New York, Mar.9 (BNA): Gold prices fell today, Friday, as investors await the non-farm payroll data in the United States, which is expected to be released today, to assess the possible path of raising interest rates in the US Central Bank.
Spot gold fell 0.1% to $1828.90 an ounce, and US gold futures fell 0.1% to $1832.90 an ounce.
Federal Reserve Chairman Jerome Powell warned this week of a larger and possibly faster rate hike to control high inflation.
Raising interest rates to control rising inflation discourages investments in non-interest-bearing gold.
The dollar index is also heading towards weekly gains, which makes the precious metal more expensive for holders of other currencies.
As for other precious currencies, silver fell in spot transactions by 0.6 percent to $19.95 an ounce, platinum fell one percent to $935.05 an ounce, and palladium fell 0.6 percent to $1,380.89 an ounce.
Source: Bahrain News Agency