Business
Gold falls about 1.8% as dollar hits two-month high
September 23, 2026 at 03:58 PM · Updated 22d ago
Coverage
5 reports · over 17 hours
MAMasrawy
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MAMasrawy
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MAMasrawy
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AJAl Jazeera Arabic
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(opens the publisher’s site)Gold fell about 1.8% as the dollar strengthened to its highest level in two months on expectations of continued Federal Reserve tightening.
- Spot gold fell about 1.82% in global markets Wednesday, trading near $4,281 per ounce.
- The dollar rose to its highest level in two months, with the dollar index at 100.56 points.
- The Federal Reserve raised its benchmark rate 25 basis points last week, to 3.75%–4%, and hinted at another increase before year's end.
- Boston Fed President Susan Collins said the central bank must continue tightening while inflation stays above its 2% target.
- Egyptian 21-carat gold fell to 6,230 Egyptian pounds per gram in evening trading, with the gold pound at 49,840 pounds, Nadi Naguib said.
- Thursday morning, Egyptian 21-carat gold fell to 6,225 EGP per gram, extending the previous day's decline.