New york: Gold prices experienced a significant drop yesterday on the world commodity markets, with the price falling by $100.30 to $4,094.20 per ounce on the Comex exchange. The spot gold price also declined, dropping by $87.46 to $4,084.06 per ounce.

According to Azeri-Press news agency, this steep decline reflects increased selling pressure in the market. The movement in gold prices was influenced by the strengthening of the dollar and falling prices, as well as macroeconomic indicators concerning the U.S. economy. These developments have heightened expectations regarding the Federal Reserve’s policy decisions.