Gold prices fell for the fourth consecutive session on Monday due to a stronger dollar while the Federal Reserve’s monetary policy stance overshadowed expectations for non-yielding gold.<\/p>\n\n\n\n
The spot gold price fell 0.6 percent to $1,739.31 an ounce by 0931 GMT, after falling earlier to its lowest level since November 10, to $1,738.35.<\/p>\n\n\n\n
US gold futures fell 0.7 percent to $1,742.<\/p>\n\n\n\n
Gold fell 1.2 percent last week, its biggest weekly decline since the week ending Oct. 14.<\/p>\n\n\n\n
The dollar rose 0.8 percent, making gold priced in US dollars more expensive for buyers abroad.<\/p>\n\n\n\n
Investors will closely follow the proceedings of the November Federal Reserve meeting scheduled for Wednesday, with market participants estimating a half-point rate hike in December following recent comments by Fed officials.<\/p>\n\n\n\n
Matt Simpson, an analyst at City Index, said that gold could test the support levels at $1,735 and $1,729 before knowing the facts of the Fed meeting.<\/p>\n\n\n\n
As for other precious metals, the spot silver price fell 1.3 percent to $20.63 an ounce, platinum fell 1.3 percent to $964, and palladium fell 2.5 percent to $1888.12.<\/p>\n","protected":false},"excerpt":{"rendered":"
Gold prices fell for the fourth consecutive session on Monday due to a stronger dollar while the Federal Reserve’s monetary policy stance overshadowed expectations for non-yielding gold. The spot gold price fell 0.6 percent to $1,739.31 an ounce by 0931 GMT, after falling earlier to its lowest level since November 10, to $1,738.35. US gold …<\/p>\n","protected":false},"author":9,"featured_media":71492,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[38,37,36],"tags":[6885,6874,6990,8658,7002,6984],"class_list":["post-75984","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-forex-markets","category-market-updates","tag-fed","tag-gold","tag-industrial-production","tag-monetary-policy-tightening","tag-retail-sales","tag-treasury-yields"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/75984","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=75984"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/75984\/revisions"}],"predecessor-version":[{"id":75985,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/75984\/revisions\/75985"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/71492"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=75984"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=75984"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=75984"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}