Gold futures prices fell on Tuesday, near the lowest level in two weeks, after the dollar rose to high levels yesterday.
And after the US administration chose Jerome Powell to take over a second term as president of the US Federal Reserve.
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And at 10:36 (GMT), the prices of the yellow metal fell in spot transactions by 7.09 dollars, or 0.39 percent, to trade at 1797.56 dollars an ounce.
And gold futures contracts for February 2022 delivery recorded a decrease of 0.54 percent, or $9.7, at the level of $1,799.4 an ounce.
Meanwhile, the dollar index fell against six other major currencies by 0.14 percent at 96.41 but remains near its highest level in 16 months.
Gold prices were at the largest daily pace in more than 3 months when trading on Monday was settled, an increase of 2.4 percent with the strength of the dollar and the rise in government bond yields.
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And US President Joe Biden announced the nomination of “Jerome Powell” to head the Federal Reserve for a second term that will last for 4 years.
With the appointment of Lyle Brainard as the bank’s vice president, raising options soon.
