Slight decline in gold prices

Global gold prices fell slightly in today's trading, while the US dollar prices stabilized near their highest level in 20 years.

By the time “03:07 pm UAE time”, the prices of the yellow metal fell in spot transactions by 0.33% to $ 1736.69 an ounce, while gold futures fell by 0.42% to $ 1735.05 an ounce.

Gold prices were severely affected, with investors' appetite for the yellow metal affected, after the significant rise in the price of the US dollar, which has become a preferred haven for investors to hedge against fears of a possible recession as a result of the move by major central banks around the world to raise interest rates to control inflation rates.

In terms of other precious metals, silver fell 0.28% to $19.18 an ounce, palladium fell 1% to $2137.5, and platinum fell 01.72% to $867.65.

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