TOKYO -- Gold is losing its shine. The precious metal, whose price neared a record high at the onset of the war in Ukraine, has come back to earth in the second half of the year after a string of U.S. interest rate increases and a surge in the value of the dollar.
Benchmark gold futures prices in New York are at $1,729 per ounce as of early October, down 15% from early March. At one point in late September the benchmark fell to $1,626, the lowest since April 2020.
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