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Gold Falls Off a Record as the Dollar Rises to a Month High

Saturday, 23 March 2024 01:25 WIB GOLD EMAS

Gold prices fell off from a record high on Friday as the dollar rose to a month high. Gold for June delivery closed down US$24.90 to settle at US$2,181.60 per ounce, a day after closing above the US$2,000 mark for the first time. The price of the metal is being buoyed by expectations lower interest rates are on the way after the Federal Reserve this week forecast rate cuts of 75 basis points this year, even as it left its benchmark rate at a 23-year high. "The expectation of central banks starting to cut policy rates later this year will continue to underpin gold," Saxo Bank noted. The ICE dollar index was last seen up 1.01 points to 104.45, the highest since Feb.14, making gold more...

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