dollar

The US dollar firmed 0.2 per cent, making dollar-priced bullion more expensive for holders of other currencies

Gold prices fell on Monday as higher energy costs fanned inflation concerns and further dimmed the prospects for a near-term cut in interest rates by the US Federal Reserve

The European Commission demanded on Sunday the US stick to a deal reached last year with the EU, which includes zero tariffs on some products such as aircraft and spare parts

A US aircraft carrier and supporting warships arrived in the Middle East, US officials said earlier this week

Markets remain focused on the Fed’s policy outlook after the US central bank delivered a 25-basis-point rate cut last week in a rare split decision

The Fed reduced rates by 25 basis points on Wednesday and indicated it will steadily lower borrowing costs for the rest of this year

The dollar, which measures the US currency against six others, slipped to 96.612, its lowest since February 2022

The dollar index rose 0.3 per cent against its rivals, making gold more expensive for other currency holders

The dollar is hovering near a two-week low hit in the previous session, making greenback-priced gold cheaper for holders of overseas currency

Bullion has lost 3.3 per cent so far this week and is set for its worst weekly performance since November 2024