Gold fell 0.1% and silver 3% this week
Experts say the rebound in the dollar has caused some investors to suspend buying gold because gold is traded in dollars, and the appreciation of the dollar has made gold more expensive for overseas investors. The ice dollar index (DXY) rose 0.5% at the close of the gold futures market on Friday. The U.S. dollar was boosted by the Fed’s indication in its meeting minutes released on Wednesday that it was reluctant to adopt unconventional strategies to keep interest rates low for a long time. Gold futures for December delivery on the New York Mercantile Exchange rose 50 cents, or less than 0.1%, to $1947 an ounce. Gold prices fell 0.1% this week for the second consecutive week. Silver futures for December delivery fell 42.4 cents, or 1.5%, to $26.877 an ounce. Silver futures fell 3% this week.
