Monday 09/March/2026 – 09:23 AM
decreased gold By about 2% today, Monday, due to the rise in the dollar over the price of the metal it is denominated in, while the increase in energy costs exacerbated concerns about inflation and decreased prospects for lowering interest rates in the near term.
The price of gold in spot transactions fell 1.7% to $5,082.51 per ounce by 02:33 GMT, and gold futures contracts in America for April delivery fell 1.4% to $5,099.40, and the dollar rose to its highest level in more than three months, which increased the cost of gold for holders of other currencies, according to Reuters.
US 10-year Treasury bond yields also rose to the highest level in a month, raising the opportunity cost of holding non-yielding gold.
Tim Waterer, chief market analyst at KCM Trade, said that gold is declining today despite the market turmoil, as the increase in oil prices has strengthened the dollar due to inflation fears and declining expectations of lowering interest rates.
Oil prices globally
Oil prices rose more than 20% to more than $110 a barrel, as the escalating US-Israeli war with Iran prompted some major oil producers in the Middle East to reduce supplies amid fears of long-term disruption to shipping through the Strait of Hormuz.
As for other precious metals, silver fell in spot transactions by 2.2% to $82.50 per ounce.
Platinum also fell 2.8% to $2,076.07 per ounce, and palladium fell 1.2% to $1,605.12 per ounce.
