WORLD CAPITAL, 17th January, 2024 (WAM) -- Gold prices extended losses on Wednesday as the US dollar strengthened after comments from a Federal Reserve official dampened expectations for a March interest rate cut, Reuters reported.
Spot gold was down 0.2% at $2,023.49 per ounce, as of 0415 GMT, after stooping 1.3% in the previous session - its biggest single-day decline since 4th December 2023.
Spot silver fell 0.4% to $22.81 per ounce.
Platinum declined 0.3% to $892.37 and palladium slipped 0.2% to $934.44. As the sister metals approach price parity, the rate at which platinum is displacing palladium in the manufacture of autocatalysts is slowing, a trend which is likely to persist through this year.