Gold prices fell in early trading in Asia, affected by the strength of the U.S. dollar and the prospect of the Federal Reserve raising interest rates
Gold prices fell during Asian trading hours. XM analyst Raffi Boyadjian said in a report that this week's rebound in the U.S. dollar has spread to gold. A stronger dollar typically makes dollar-denominated gold more expensive for holders of non-dollar currencies. The analyst said that the Federal Reserve's possible interest rate hike in September has also become a focus again. A higher interest rate environment typically weighs on gold, which does not earn interest. Spot gold fell 0.15% to $4,043.12 an ounce. Open a futures account on Sina's cooperative platform, safe, fast and guaranteed