Gold prices fell slightly today, Tuesday, but hovered above the psychologically important level of 1,800 dollars, as the increasing threat from injuries in the delta axis fueled expectations that The Federal Reserve may delay loosening its accommodative stance.
According to Arabiya Net, gold fell in spot transactions 0.1% to $1803.53 an ounce, after it jumped by about 1.4% on Monday. And gold settled in US futures contracts at $ 1806.30.
The dollar index was stable, after dropping about 0.6% yesterday, Monday.
The fact that gold has again crossed the $1,800 mark says the market is still very concerned about Delta, said Hui Lee, economist at OCBC Bank. .
IHS Markit data showed that business growth in the US slowed for the third month in a row in August, while the rapidly spreading delta blunt weakens recovery momentum.
Investors are now focused on a scheduled speech by Federal Reserve Chairman Jerome Powell at the annual Jackson Hole Symposium in Wyoming, as they await any indications of the US central bank's plans to scale back stimulus.
Asian stocks were supported today by easing concerns about an immediate scaling back of stimulus.
For other precious metals, silver fell 0.3% to $23.59 an ounce, while platinum rose 0.2% to $1015.41. Palladium gained 0.4% to $2410.42, and prices rose 5.5% in the previous session in the largest one-day gain since May 2020.
