One of the main factors influencing price changes across the board in the financial markets has been the Federal Reserve's monetary policy and its struggle to reduce inflation. However, the strength or decline of the dollar must also be taken into account by buyers and sellers of gold and silver. because the price of rare metals is always expressed in US money.

Pushing Dollar Power Copper and Gold are Cheaper Today is no exception, as drops in gold and silver are solely attributable to dollar growth. The most popular April contract for gold is down $3.30, or 0.18%, and set at $1842.10 as of 5:55 PM Eastern Time. The most popular silver futures contract for March saw a loss of 0.52%, or $0.11, and is now set at $20.98 1/2 cents.

The main factor influencing today's total price shift for gold and silver was the resilience of the dollar. The dollar indicator increased by 0.49% or 0.513 points, advancing to 104.945.

Today, investors in the gold and silver markets priced both precious metals marginally higher, but the dollar's resilience reversed those gains and caused a drop in the price of both precious metals.

Looking at the market prices of gold and silver through the lens of the Kitco Gold Index is one of the best methods to demonstrate that point (KGX). The current price of gold is $1835.90, and the spot price of silver is $20.90, according to the screen-print of the KGX, which was captured at around 6 PM EDT.

Today, market silver lost seven cents in worth and spot gold dropped $0.90 per ounce. But because of the strong dollar, gold fell by $9.90 and silver fell by $0.11. Even though gold and silver gained $9 and $4 respectively through regular dealing, gains were cancelled out when current pricing took the power of the dollar into account.