Gold prices decline for the tenth consecutive session under the effect of a strong dollar.
Gold Prices Continue Decline on March 24th, Marking Tenth Consecutive Session of Decrease
Gold prices continued their downward trend on Tuesday, March 24th, marking the tenth consecutive session of decline. This drop comes amid a strengthening U.S. dollar and diminishing expectations for interest rate cuts by the Federal Reserve.
During trading, the precious metal fell by 1.4% in the spot market, settling at $4,345.48 per ounce around 01:08 GMT. Meanwhile, U.S. gold futures for April delivery also decreased by 1.3%, reaching $4,348.60.
The rise of the greenback makes gold more expensive for holders of other currencies, impacting its appeal as a safe-haven asset.
In the realm of other precious metals, silver saw a drop of 2.5%, trading at $67.37 per ounce. Platinum decreased by 2.1% to $1,841.35, while palladium plummeted by 2.8% to settle at $1,393 per ounce.
