Gold Prices Fall Over 1% Amidst Economic Uncertainty and Interest Rate Hike Expectations

Kathmandu. On Tuesday, the price of gold in the international market has seen a decline of more than one percent. Amidst the ongoing uncertainty in West Asia, the expectation that the US may increase interest rates to control the high price rise has pushed the price of gold towards its biggest monthly decline since October 2008.

Today, the price of spot gold has decreased by 1.5 percent to $3,956.92 per ounce. With this decline, the price of gold has already decreased by 12.7 percent this month alone, which is the fourth consecutive month of decline. Similarly, the futures price of US gold for the upcoming August month has also decreased by 1.7 percent to $3,969.30 per ounce.