Rising Dollar and Reduced Uncertainty Push Gold Prices Down

Rising Dollar and Reduced Uncertainty Push Gold Prices Down

Gold prices continued their downward trend on Tuesday, adding further losses to their recent decline amid a complex investment environment with conflicting factors. While the precious metal had benefited from geopolitical tensions related to Iran and Russia, these tensions have begun to ease, leading to a decrease in demand for gold as a safe haven. Simultaneously, the US dollar strengthened, adding further pressure on the dollar-denominated precious metal. This decline comes as investors cautiously await the release of the minutes from the Federal Open Market Committee's January meeting, scheduled for publication later this week. These minutes are considered a pivotal document that could reveal the direction of future US monetary policy, which will largely determine the future direction of gold prices in the short and medium term. Market Figures: Sharp Declines in Spot and Futures Gold markets recorded figures that demonstrate the depth of the current decline. Gold prices fell 0.8%…