The price of gold was close to its lowest point in over five weeks yesterday, as confirmed by precious metals market traders.
The metal is being hindered by the strengthening of the dollar and the yields of U.S. Treasury bonds, at a time when the minutes of the July meeting of the Federal Reserve (Fed) are expected to be released. These minutes could provide clarity on the intention to raise interest rates.
Spot gold experienced minimal fluctuation, reaching its lowest level since July 7th. United States gold futures contracts remained stable.
Meanwhile, the dollar reached its highest level in over a month due to concerns about the Chinese economy, which increased the cost of gold bars for buyers with other currencies, while the yield on 10-year U.S. Treasury bonds surpassed 4 percent.
