Gold prices fell to the lowest level in more than a week

Gold prices fell on Monday to its lowest level in more than a week, under pressure from the dollar's rise, while cautious investors awaited the outcome of the Federal Reserve's policy meeting this week, while the recent rises in consumer prices were seen as a temporary issue.

And gold fell in the spot market 0.6 percent to $ 1864.61 by 0536 GMT, the lowest level since the fourth of June, and US gold contracts fell 0.7 percent to $ 1866 an ounce.

The dollar rose 0.1 percent, hovering near a week's peak against other major currencies, raising the cost of gold to holders of other currencies.

Data last week showed a sharp rise in consumer prices in the United States, but Fed officials have repeatedly said that inflation is temporary.

Attention now turns to the Federal Reserve's meeting on June 15-16, hoping for indications about the opinion of policymakers about the escalation of inflation and monetary policy in the future more.

Morgan Stanley said in a research note on Friday that the Fed may pave the way for greater flexibility on the quantitative easing program during the meeting.

Silver settled at $27.89 an ounce, palladium fell 0.1 percent to $2,773.52, while platinum fell 0.5 percent to $1,143.89.

Follow our latest local and sports news and the latest political and economic developments via Google news