RE: DOLLAR INDEX4 Feb 2023 00:19
The price of gold continued to fall on Friday, reaching its lowest point in a bit over three weeks following the release of the United States non-farm payrolls. The strong figures showed the labor market still remains resilient despite a tight monetary policy.
This possibly rekindled fears that the Federal Reserve, which raised its interest rate by a quarter of a percentage point earlier, might have to push the terminal rate further into the restrictive territory, sending the dollar to rise and gold the opposite way.
Gold plunged 2.02% to go for $1,874.25 per ounce at 10:13 am ET. Silver nosedived 3.5%, the lowest since December 2022, selling at $22.65 per ounce simultaneously. Platinum tumbled 3.09% to sell for $994.36 per ounce at 10:14 am ET. Palladium slid 1.59% to $1,615.55 per ounce concurrently.
Baha Breaking News (BBN) / AY