Gold Price Today Falls as Dollar Rises, but Fed and Oil Shock Keep Bullion in Play
Gold fell 0.5% to $5,165.93 an ounce Wednesday, reversing a nearly 2% jump the day before, as a stronger dollar and expectations of prolonged U.S. rate hikes curbed demand. U.S. gold futures dropped 1.3% to $5,174.40. The U.S. CPI rose 0.3% in February, keeping focus on the Fed’s upcoming meeting. Silver slid 4.1% to $84.82, platinum lost 1.1%, and palladium dropped 1.5%.