London, December 05 (QNA) - Gold prices fell today, with the rise of the dollar due to expectations of US jobs data that may push the Federal Reserve (the US Central Bank) to accelerate the pace of raising interest rates and continue to tighten monetary policy.
The price of gold in spot transactions decreased by about 1.2 percent to $ 1775.68 an ounce, after reaching its highest level since the fifth of last July at $ 1809.91 an ounce earlier today, and US gold futures contracts fell by about 1.3 percent to $ 1786.90 an ounce.
Silver in instant transactions recorded a decline of about 3.2 percent to $ 22.38 an ounce, in addition to a decrease in platinum by about one percent to $ 1004.56 an ounce, and palladium 0.2 percent to $ 1895.38.
The dollar rose 1.35 percent in today's trading against the Japanese yen and the pound sterling.
The US services sector unexpectedly rebounded last November with a recovery in employment, demonstrating the current momentum in the US economy, which is expected to enter recession next year.
(QNA)