Gold prices are falling with the rise of USD

Gold prices fell on Monday (October 24th) as the dollar rose as investors sought to clarify whether the US Federal Reserve would ease monetary policy.

And the price of gold in spot transactions fell 0.4% to $ 1650.77 an ounce by 0754 GMT, while US gold futures fell 0.1% to $ 1653.80.

Prices hit their highest level since Oct. 14 earlier in the session, after jumping 1.8% on Friday, their biggest intraday gain since Oct. 3.

This is partly due to expectations that some Fed officials are considering limiting the rapid pace of interest rate hikes.

The dollar index rose 0.4%, reducing the attractiveness of US dollar-denominated gold to overseas buyers.

The US Federal Reserve is still widely expected to raise interest rates by 75 basis points at its November meeting.

The price of silver in spot transactions fell 1.2% to $ 19.17 an ounce, and palladium 0.2% to $ 2014.13.

Platinum rose 0.2% to $933.75 an ounce, having reached earlier in the session a peak it had reached on August 15.

Markets in India, Thailand, Singapore and Malaysia are closed for public holidays.