Gold at its lowest level in 3 weeks
Gold prices hovered at their lowest level in three weeks today, pressured by the rise of the dollar and the yield on Treasury bonds, amid fears that the Federal Reserve (the US central bank) will continue to raise interest rates by a large amount.
By 0049 GMT, gold fell in spot transactions 0.1 percent to $ 1627.04 an ounce.
Prices hit their lowest since September 28 earlier in the session at $1,624.98 an ounce.
Gold futures fell 0.1 percent to $1,632.60 an ounce.
The dollar index was stable after rising 0.8 percent, while the yield on US 10-year Treasury bonds reached its highest level since mid-2008.
The latest data revealed that inflation continues to rise, well above the central bank's target of about 2 percent.
This news had little effect in changing expectations for a fourth rate hike by 75 basis points next month.
As for other precious metals, silver fell in spot transactions 0.4 percent to $18.36 an ounce.
Platinum fell 0.6 percent to $878.52 an ounce.
And palladium fell 0.6 percent to $ 1988.78 an ounce.
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