Gold Prices Fall Amid Strengthening Dollar

Gold Prices Take a Hit Amid Rising Dollar

Gold prices fell on Tuesday after reaching a three-week high, influenced by a stronger dollar, despite ongoing uncertainties related to U.S. tariffs and geopolitical tensions.

Spot gold dropped 1.5% to $5,150.38 per ounce, while U.S. futures contracts for April delivery fell 1.1% to $5,170.70.

This decline comes as the dollar gains strength, making gold more expensive for holders of other currencies. Market participants are anticipating U.S. employment data and forecasting a 25-basis-point interest rate cut three times this year.

Impact on Other Precious Metals

The dollar’s appreciation has also affected other precious metals:

• Silver: down 3.1% to $85.50 per ounce
• Platinum: down 2.9% to $2,092.31 per ounce
• Palladium: down 2.1% to $1,706.50 per ounce