With the fall of the dollar, gold prices rise

March 26, 2024


Gold prices rose, Monday, with renewed bets that the Federal Reserve (the US central bank) will begin lowering interest rates in June, and with the decline of the dollar, which enhanced the appeal of the yellow metal.

The dollar fell 0.1 percent against other currencies, making gold less expensive for holders of those currencies.

“The environment still appears to be quite good for the precious metals markets,” said Tim Waterer, chief market analyst at KCM Trading.

He added, “Markets are still looking forward to an imminent cut by the Federal Reserve in interest rates. “June appears to be the most likely month for the first interest rate cut to begin.”

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