Gold drops more than 2% as dollar strengthens
Gold bars
Gold and silver prices fell sharply in Friday trading, pressured by a stronger US dollar and growing expectations that the Federal Reserve may further tighten monetary policy. Trading activity remained subdued due to the Dragon Boat Festival holiday in China and Hong Kong.
The US dollar index, which measures the greenback against a basket of six major currencies, rose 0.25% to 101.11.
|
Changes in precious metals prices |
|||
|
Metal |
Price ($/oz) |
Change ($) |
Change (%) |
|
Gold (August futures) |
4151.30 |
(94.60) |
(2.25%) |
|
Spot Gold |
4131.22 |
(78.75) |
(1.85%) |
|
Silver (July futures) |
63.56 |
(2.76) |
(4.15%) |
|
Spot Silver |
63.60 |
(2.07) |
(3.15%) |
|
Spot Platinum |
1668.21 |
(30.32) |
(1.80%) |
|
Spot Palladium |
1256.43 |
(27.96) |
(2.20%) |
The CME Group said on its official website that the official settlement date for all trades executed today, which is a US public holiday in observance of Juneteenth, will be Monday.
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