While the US dollar is strengthening, the price of gold falls at the beginning of the session. A stronger dollar usually makes this precious metal more expensive for holders of non-US dollar currencies. Spot gold fell 1.3% to $4,617.52 an ounce, according to data from the Intercontinental Exchange. Concerns about rising oil prices triggering higher inflation may also put pressure on gold prices, as accelerated inflation may cause major central banks to raise interest rates, thereby weakening the appeal of this poor precious metal. The US dollar index rose 0.2% to 100.263, according to London Stock Exchange Group data.

While the US dollar is strengthening, the price of gold falls at the beginning of the session. A stronger dollar usually makes this precious metal more expensive for holders of non-US dollar currencies. Spot gold fell 1.3% to $4,617.52 an ounce, according to data from the Intercontinental Exchange. Concerns about rising oil prices triggering higher inflation may also put pressure on gold prices, as accelerated inflation may cause major central banks to raise interest rates, thereby weakening the appeal of this poor precious metal. The US dollar index rose 0.2% to 100.263, according to London Stock Exchange Group data.