Gold Falls to lowest level in Eight Months

Gold prices fell by 3% today, to their lowest level in eight months, as they fell by 6.4% in February so far as the US dollar rose and US Treasury yields rose to their highest level in more than a year.

The price of spot gold fell by 2.5% to $ 1726.31 an ounce after falling earlier in the session to $ 1716.85, the lowest level since June 2020, and US gold futures fell 2.6% to $ 1728.80 an ounce.

As for the other precious metals, silver fell 3.9% to $ 26.34 an ounce, down by 2.5% so far in February, and palladium fell by 3.3% to $ 2,321.15, and platinum fell by 2.8% to $ 1182.34.