Gold prices slip on stronger US dollar

28/03/2022 Argaam

Gold prices fell today, March 28, with the US dollar approaching its highest level in a week amid geopolitical tensions between Russia and Ukraine, and the Federal Reserve’s rate hike last week.

 

Gold futures contracts for June delivery fell 0.99% to reach $1,940.40 per ounce at 10:15am Makkah time.

 

Spot price for the yellow metal fell by 1.25% to reach $1,933.76 per ounce.

 

Elsewhere, silver futures for May delivery fell 1.33% to reach $25.28 an ounce. Spot price for platinum delivery plunged by 0.96% to reach $995.77, while palladium declined 2.26% to reach $2,266.14 per ounce.

 

The main dollar index, which measures the performance of the US currency against a basket of six currencies, rose 0.44% to reach 99.219 points.

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