Gold falls 2.3% to lowest since May 4 on stronger dollar

NEW YORK, (UrduPoint / Pakistan Point News / WAM - 16th May, 2026) Gold fell on Friday to its lowest level in more than a week, affected by the rise in US Treasury yields and the strengthening of the Dollar.

Spot gold dropped by 2.3% to $4,541.

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91 per ounce by 15:40 GMT, after earlier in the session touching its lowest level since May 4. prices have also declined by about 3.7 % since the beginning of the week, while US gold futures for June delivery fell by 3.2 % to $4,535.

As for other precious metals, spot silver plummeted by 8.6 % to $76.27 per ounce, platinum declined by 3.9 % to $1,976.54, and palladium dropped by 1.7% to $1,412.11.