US President Joe Biden and Republican House Speaker Kevin McCarthy will meet today to discuss raising the debt ceiling, and attention is drawn to this meeting to see if a solution to this crisis will be found after the halt to negotiations on Friday.
price movements
At 06:11 GMT, spot gold fell 0.2% to $1,971.79 an ounce, and US gold futures fell 0.3% to $1,975.00 an ounce. .
The dollar index rose 0.1%, making gold more expensive for overseas buyers.
Gold prices rose 1% on Friday, after the head of the Federal Reserve said it was still unclear whether further interest rate hikes were needed, amid an economic downturn. uncertainty surrounding the impact of previous hikes and the latest crisis in the banking sector. , with the fact that inflation is under control.
Non-performing bullion becomes less attractive in a market with higher interest rates.
According to Reuters analyst Wang Tao, gold could break above $1,985 and climb into a range of $1,992-2,003 before falling.
As for other precious metals, silver fell in spot trades 0.9%, to $23.62 an ounce, and platinum fell 0.4%, to $1,058.62, and palladium lost 0.5%, registering $1,505.56.
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