Gold Drops 1.5% as Dollar Rises

Gold continued its decline on Monday, pressured by a stronger dollar, as investors awaited the approach of Kevin Warsh—U.S. President Donald Trump’s nominee for Federal Reserve Chair—regarding potential interest rate cuts. Meanwhile, silver recovered from its lowest level in over three weeks recorded on Friday.اضافة اعلان

Spot gold fell 1.5% to $4,793.97 per ounce by 00:46 GMT, after hitting its lowest level in more than a week on Friday.

Gold had previously reached an unprecedented high of $5,594.82 on Thursday.

U.S. gold futures for February delivery rose 1.6% to $4,818.10 per ounce.

Reuters