Gold Declines as Dollar Strengthens

Gold prices fell on Monday, pressured by a stronger U.S. dollar, which approached its highest level in six months, along with declining expectations of a December interest rate cut by the U.S. Federal Reserve.اضافة اعلان

By 01:32 GMT, spot gold was down 0.3% at $4,051.48 per ounce, while December gold futures rose 0.7% to $4,049.50 per ounce.

The dollar reached its highest level in nearly six months on Friday after indicators showed faster U.S. job growth in September, signaling that the Federal Reserve is likely to pause interest rate cuts in December.

A stronger dollar makes dollar-denominated gold more expensive for holders of other currencies.

Reuters