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Gold falls due to the rise of the dollar, as the rise in inflation is considered transient
Gold prices fell Friday, June 11th, weighed down by a stronger dollar as some investors are betting that recent rises in US consumer prices are temporary.
Spot gold fell 0.9% to $1,881.80 an ounce.
US gold futures fell 0.7% to $1,883.30.
The dollar index rose 0.4%, which reduces the appetite for the metal for investors holding other currencies.
Thursday's data revealed that US consumer prices rose strongly in May, but analysts say the increase is likely to be fleeting and thus fears of a Federal Reserve tightening have eased.
As for other precious metals, palladium rose 0.8% to $2798.92 an ounce, and platinum advanced 0.1% to $1151.52.
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