Gold prices fall to 2-month low while the dollar continues to rise

WASHINGTON (dpa-AFX) – Gold prices fell on Tuesday, extending losses to a third straight session, as the dollar continued to rally higher and investors opted for riskier assets amid expectations of business-friendly policies during Donald Trump’s second rally. term.

The dollar index rose to 106.18 before falling to 106.03, but still remained almost 0.5% higher than the previous close.

November gold futures closed $11.20, or about 0.43%, lower at $2,600.00 an ounce, a nearly two-month low.

Silver futures for November ended higher by $0.146 or almost 0.5% at $30.686 per ounce, while copper futures for November fell to $4.1175 per pound, down $0.0935 or about 2.22%.

Investors are looking ahead to key U.S. inflation data, reports on retail sales and industrial production, and commentary from Federal Reserve officials due this week.

Meanwhile, Trump is likely to appoint two men with track records of sharply criticizing China to key positions in his new administration, according to reports.

It was said that Trump will appoint pro-India Congressman Michael Waltz as his National Security Advisor and foreign policy hardliner Marco Rubio as Secretary of State to prioritize US-India relations and to counter Chinese aggression in the Indo-Pacific region.

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