Lates News

The sharp decline in the price of gold continued the downward trend from the previous trading day; the strengthening of the US dollar and market expectations that the Federal Reserve may raise interest rates later this year have dampened investor sentiment. The price of gold futures in the New York market fell by 3.4% to $3990.30 per ounce, hitting the lowest closing price since November of last year. Other precious metals prices also saw declines. The US dollar rose against a basket of currencies today, making commodities priced in dollars more expensive for overseas buyers.