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Gold falls as U.S. dollar strengthens

CHICAGO
2023-06-13 03:06

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CHICAGO, June 12 (Xinhua) -- Gold futures on the COMEX division of the New York Mercantile Exchange fell on Monday as the U.S. dollar strengthened.

The most active gold contract for August delivery fell 7.50 U.S. dollars, or 0.38 percent, to close at 1,969.70 dollars per ounce.

Investors are also waiting for the U.S. consumer price index (CPI) due out Tuesday and the Federal Reserve's decision on interest rate when its June monetary policy meeting concludes on Wednesday.

Market expectations are the Federal Reserve will pause in its rate hike at the June meeting and punt a hike to the next meeting in July, depending on the inflation report on Tuesday.

Silver for July delivery fell 35.10 cents, or 1.44 percent, to close at 24.059 dollars per ounce. Platinum for July delivery fell 17.50 dollars, or 1.73 percent, to close at 995.30 dollars per ounce.
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