Singapore – Gold continued its decline today, Monday. It was influenced by the rising dollar. Investors are awaiting the approach of Kevin Warsh. Warsh is President Donald Trump’s nominee for Federal Reserve Chairman. His stance on interest rate cuts is keenly watched.
Spot gold fell 1.5 percent. It reached $4793.97 per ounce. This follows its lowest level in over a week on Friday. US gold futures for February delivery rose 1.6 percent. They climbed to $4818.10 per ounce.
Regarding other precious metals: Spot silver increased by 1.6 percent. It reached $85.98 per ounce. Silver had recorded an unprecedented high of $121.64 on Thursday.
Spot platinum also decreased by two percent. It fell to $2120.05 per ounce. Platinum had hit an unprecedented high of $2918.80 on January 26. Palladium dropped 0.9 percent. It reached $1682.59.