Gold is turning lower amid efforts by members of the American Central Bank to continue raising interest rates

© Reuters. Gold bars displayed in Seoul, with a photo from the Reuters archive.

(Reuters) – Gold prices turned lower on Wednesday, giving up the gains it made thanks to weak economic data in the United States, but it remained above the $1,900 level, amid signs from prominent members of the US Federal Reserve (Central Bank) that they intend to continue raising interest rates to curb interest rates. rein in inflation.

It cut its losses and stabilized after falling to its lowest level in several months, which makes gold less attractive to holders of other currencies.

It fell 0.2 percent to $1,904.84 an ounce by 1845 GMT, after hitting a session low of $1,896.32 earlier.

The American settlement was 0.2 percent lower at $ 1907.

It fell in spot transactions 1.6 percent to $23.55 an ounce, while platinum rose 0.2 percent to $1,041.25 and lost 2 percent to $1,708.59.

(Prepared by Mahmoud Abdel-Gawad for the Arabic Bulletin)

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