Gold Falls

Gold slipped on Wednesday and was on track for its longest run of monthly losses since 2018, pressured by aggressive rate hikes by major central banks across the world

Spot gold fell for a fifth straight session, down 0.3% at $1,753.84 per ounce, which could be its longest losing streak since November 2021

Interest rates to go further up; strong dollar is likely to continue weighing on gold prices

Federal Reserve's July meeting suggested the rise in Central Bank's rates to tame inflation; gold dropped to its lowest in August, dollar rose 0.2 percent hitting a three-week high

Spot gold held its ground at $1,767.39 per ounce, as of 0239 GMT US gold futures rose 0.4% to $1,783.90

A market authority said last week that Russian refiners can continue to sell platinum and palladium in London, the world's biggest precious metals trading centre

Spot gold was unchanged at $1,797.71 per ounce by 0532 GMT. U.S. gold futures was up 0.2% at $1,798.80. The metal fell about 2% for the week, its worst fall since Nov. 26

Spot prices touched a seven-month low on Friday, deepening a slump and breaching through a support level that analysts say could portend further losses

Silver also surged on increased offtake by industrial units and coin makers