Gold prices are declining worldwide as the dollar rises
Friday 9 November 2018
Gold fell on Friday on a global scale toward the biggest weekly decline since August, when the dollar rose to 16-month mark after the Federal Reserve held its stance on monetary policy tightening, and it appears to raise interest rates again. December.
Until 1028 GMT spot consumption of gold fell 0.3 percent to $ 1219.5 an ounce and reached the lowest level since November 1 at $ 1217.20 per ounce.
Gold in US futures fell 0.4 percent to $ 1220.3 an ounce.
Gold reached a record high of $ 1243.32 per ounce on October 26, the highest since mid-July
The dollar has grown to a 16-month high, backed by a strong US economic and interest-intensive environment, increasing the price of precious metals to holders of other currencies.
Raising interest rates on gold prices also increases the cost of omitting a chance to obtain a non-profitable metal.