Gold Drops Over 1% as Strong Dollar Pressures Prices

24/03/2026

Gold Drops Over 1% as Strong Dollar Pressures Prices

KUWAIT CITY, March 24: Gold prices dropped more than 1% on Tuesday, marking a tenth consecutive session of losses, as a stronger U.S. dollar and diminishing expectations of near-term interest rate cuts weighed on the precious metal.

Spot gold fell 1.5% to $4,340.63 per ounce as of 04:18 GMT, bringing its cumulative decline to around 22% over the past ten sessions.

In the previous session, prices slid to $4,097.99 per ounce — the lowest level since November 24 — before recovering slightly.

The downturn comes as investors reassess the outlook for monetary easing by the Federal Reserve, with a firmer dollar further pressuring gold by making it more expensive for holders of other currencies.