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Gold is captive to discussions on the debt ceiling in the United States and the strength of the dollar

May 24, 2023

Investors are waiting for any indication on the direction that interest rates will take, as their rise increases the opportunity cost of owning gold that does not generate a return.

price movement

Gold fell 0.1% in spot trades to $1,973.38 an ounce at 0257 GMT, while US gold futures settled at $1,975.90 .

The dollar index maintained its level, making the yellow metal less attractive for foreign buyers.

As for other precious metals, silver fell 0.3% to $23.37 an ounce and platinum rose 0.1% to $1,049.38. Palladium also rose 0.5% to $1,453.16, according to Reuters data.

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Arab Desk

Arab Desk

The Arab Desk leads The Eastern Herald's reporting on the Middle East and North Africa. The desk has covered the Gaza-Israel war since October 2023, the Iran-Israel war of 2025-2026, the fall of the Assad government in Syria, Hezbollah's political and military shifts in Lebanon, the war in Yemen, and the diplomatic realignment of the Gulf states under the Abraham Accords and the Saudi-Iranian rapprochement.

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