The price of gold has declined to its lowest level in six months as the U.S. dollar rallies to new
heights over mounting fears of a global recession.
The U.S. dollar rose to its highest level in more than two years as investors seek a safe haven
as the likelihood of a worldwide recession increases.
The rise of the greenback continues to push gold prices lower. Gold fell 2.3% to $1,767.53 U.S.
an ounce, its lowest price since December 2021. Silver and platinum prices also continue to
decline.
Recession fears are particularly strong in Europe, where fears are growing that Russia will cut
off supplies of natural gas to the continent. The Euro currency recently fell to a 20-year low
against the U.S. dollar.
