Gold prices fall

Gold prices fell today, hovering close to the lowest level in more than a week, under pressure from the dollar's rise and the revival of risk appetite, while investors await the European Central Bank's meeting scheduled for today.

By 0514 GMT, the spot price of gold was down 0.2 percent to $ 1799.18 an ounce (an ounce), after hitting its lowest level since July 12 at $ 1793.59 the previous session.

US gold futures fell 0.2 percent to $1,799.20 an ounce.

"Gold prices are under pressure because the dollar is hovering around three-month highs and US stocks rebounded for a second day, which means traders are disregarding virus concerns and re-trading on the basis of inflation," said Margaret Yang, analyst at Daily FX.

In other precious metals, silver fell 0.3 percent to $ 25.15 an ounce, palladium rose 0.5 percent to $ 2667.44, and platinum fell 0.3 percent to $ 1076.91 an ounce.

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