New York, March 9 (BNA): Gold prices fell on Friday, as investors await the US non-farm payroll data, which is expected to be released today, to assess the likely path of raising interest rates in the United States. US Central Bank.
Spot gold fell 0.1% to $1828.90 an ounce, and US gold futures fell 0.1% to $1832.90 an ounce.
Federal Reserve Chairman Jerome Powell this week warned of higher and possibly faster interest rate hikes to control soaring inflation.
Raising interest rates to control rising inflation discourages investment in non-interest bearing gold.
The dollar index is also on track for weekly gains, making the precious metal more expensive for holders of other currencies.
As for other precious currencies, silver fell in spot transactions by 0.6 percent to $19.95 an ounce, platinum fell by one percent to $935.05 an ounce, and palladium fell 0.6 percent to $1380.89 an ounce.
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