Gold prices touch the lowest level in 6 weeks

Today, gold prices touched their lowest level in six weeks with the rise of the dollar in light of the decline in morale in Europe due to the crisis of the "Corona" virus, while the growing concern of investors about further stimulus from the US Federal Reserve (Central Bank).

In the spot market, gold lost 1% to $ 1880.46 an ounce.

Earlier, gold hit its lowest level since August 12 at $ 1873.70.

In futures trading in the US, gold lost 1.5% to $ 1879.10 an ounce.

The dollar index reached an eight-week high, thanks to optimistic US home sales data in the United States and concerns about a second wave of Coronavirus infections in Europe.

As for the other precious metals, silver fell 4.8% to $ 23.25 an ounce, and it had previously recorded its lowest level in nearly two months at $ 23.04.

Platinum lost 1% to $ 858.47, while palladium fell 0.1% to $ 2,217.75.

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