Gold prices decline as dollar strengthens
Istanbul, November 12 (Hibya) – Gold prices fell as stronger-than-expected US inflation data reinforced expectations of interest rate hikes, while a stronger dollar added further pressure.
Spot gold declined 0.2 percent to $3,981 per ounce on November 12. US gold futures also fell 0.3 percent to $3,987.50.
Higher-than-expected US inflation data and expectations that the Federal Reserve (Fed) could adopt a more restrictive interest rate policy weighed on gold prices. The strengthening dollar and rising bond yields also limited demand for the precious metal.
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