Gold prices fell by more than one percent today as the dollar continues to strengthen amid strong expectations that the US Federal Reserve will hike interest rates.
The yellow metal prices were at their lowest level in a week.
Spot gold prices fell 1.1 percent to $1676.79 an ounce, while US gold futures fell 1.5 percent to $1683.90 an ounce.
Thus, gold fell for the fourth consecutive session, which is probably the worst performance of the precious metal since mid-August.
In the Sultanate, gold was being traded for RO20.70 per gram for 22-karat on Tuesday.
In India, one of the largest consumers of gold jewelry, Gold and silver prices went down in Tuesday’s early trade with 10 grams of yellow metal (24-carat) trading at Rs 51,930, after a change of Rs 270.
Silver, on the other hand, was down by Rs 1,300 and is trading at Rs 59,500 per kg.
Ten grams of 22-carat gold is trading at Rs 47,600 after a decrease of Rs 250.
In Mumbai and Kolkata, 24-carat gold is selling at Rs 51,930 per 10 grams, while 22-carat gold is trading at Rs 47,600, respectively.
In Delhi, 24-carat and 22-carat gold are trading at Rs 52,100 and Rs 47,750 per 10 gm, respectively.
