Today, Monday, gold prices witnessed stability near their lowest levels in two and a half years, affected by the rise of the US dollar.
The stability of gold prices today coincided with the adoption of a strict stance by the major central banks regarding interest rates to reduce inflation.
Spot gold prices fell 0.3% to $1,637.85 per ounce, while prices fell 1% earlier in the session to their lowest level since April 2020, recording $1,626.41.
US gold futures fell 0.6% to $1,645, according to Reuters.
The dollar index, which measures the performance of the US currency against six major currencies, rose to its highest level since 2002, supported by the decline of the pound sterling.
The US Federal Reserve and a number of other major central banks raised interest rates last week; This has raised concerns about its impact on growth.
Last Friday's poll showed that the slowdown in business activity in the euro zone worsened this September.
Raising interest rates in the United States reduces the attractiveness of non-yielding gold while strengthening the dollar in which gold is priced.
Gold prices have fallen more than 20% since it crossed the main limit of $2,000 an ounce in March 2022.
