The world price of gold today, December 12; It reached $2,626 per ounce
reported by Mehr News Agency According to Reuters, the rise in the value of the US dollar, while investors are waiting for the country’s economic data to estimate the outlook for the Federal Reserve’s monetary policies, has lowered the price of gold in Monday’s trading.
The price of gold per ounce decreased by 0.64% to $2,626 and 35 cents today. The price of gold futures in New York’s COMEX market also reached $2,650 and 30 cents with a decrease of 1.15%.
The dollar index increased by 0.5% and made buying gold more expensive for holders of other world currencies.
U.S. economic data including new jobs, employment rate and payrolls will be released this week. Some Federal Reserve officials, including Jerome Powell, the head of the US Federal Reserve, are also scheduled to give a speech.
Markets Currently 65.4% expect interest rates to drop 0.25% at the December meeting. Rising interest rates increase the cost of keeping gold as a non- profitable capital and lowers the desire to buy it.
Gold prices fell more than 3 percent in November, posting their worst performance since September 2023. The prospect of rising taxes in the Trump administration and the possibility of stopping the process of lowering interest rates have been among the reasons for the drop in gold prices.
Trump on Saturday asked the member countries of BRICS not to introduce any new currency and not to introduce any other currency to replace it. Don’t support the dollar, otherwise they will face 100% taxes.
Among other precious metals, silver fell 1.44 percent to $30.66 and platinum was down 0.68 percent to $943.43.
