Gold prices fell on Wednesday to resume its losses, which were suspended yesterday, the third loss in the last four days, under the pressure of the dollar against a basket of global currencies, in addition to weak investment demand for safe assets.
Gold prices fell by more than 0.1% at 10:50 GMT to trade at $ 1,313.39 per ounce from the opening level of $ 1.315.03 and recorded the highest level of $ 1,315.79 and a low of $ 1,312.77.
Gold prices rose yesterday by 0.25%, the first gain in three days, as investors waited ahead of US President Donald Trump’s speech.
The dollar index rose 0.2% on Wednesday, extending its fifth day in a row to a two-week high of 95.97 points, reversing the continued rise of the greenback against a basket of currencies, pushing the price of gold and other metals denominated in US dollars.Support for the US dollar gains in the current period The 10-year US bond yield rose to a one-week high as risk appetite improved in high-yielding asset markets, especially on strong speculation that the US and China would sign a comprehensive trade agreement.