The strength of the US dollar makes gold less attractive to foreign buyers.
US President Joe Biden and House Speaker Kevin McCarthy failed to reach an agreement yesterday, Monday, on how to raise the federal government’s debt ceiling to $31.4 trillion, just ten days before a potential stumbling block that could throw the economy into chaos.
But they have vowed to continue the talks.
price movements
Gold fell in spot trading, 0.4%, to $1,962.06 an ounce at 03:06 GMT.
US gold futures also fell 0.6% to $1,965.70.
And prices for the yellow metal fell in the early sessions of the week on Monday on the strength of the green currency, as well as investor anticipation over debt ceiling talks in the United States.
In other precious metals, spot silver fell 0.5% to $23.55 an ounce, palladium fell 0.4% to $1,485.59, while platinum s stabilized at $1066.59.
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