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As of 14:30 London time, the value of gold fell by 0.59%, to $ 1,240.05 per troy ounce.
At the same time, the index showing the strength of the US dollar relative to a basket of six major currencies increased by 0.62, to the level of 97.655.
Gold is getting cheaper against the background of the dollar gaining strength. Most financial analysts predict that at a meeting next Wednesday, the US Federal Reserve will raise the key interest rate by 25 basis points, the fourth time this year.
However, the strengthening of the dollar may be short-term, since experts also believe that the US central bank may slow down the rate of interest rate increase next year.
As a rule, the price of gold is inversely correlated to the US dollar, because the precious metal is traded in US currency.
ইন্সটাফরেক্স বিশ্লেষণমূলক পর্যালোচনাগুলো আপনাকে মার্কেট প্রবণতা সম্পর্কে পুরোপুরি সচেতন করবে! ইন্সটাফরেক্সের একজন গ্রাহক হওয়ায়, দক্ষ ট্রেডিং এর জন্য আপনাকে অনেক সেবা বিনামূল্যে প্রদান করা হয়।
