Gold prices fell after rising to all-time highs earlier on Monday, but remained above the key $2,000 level supported by growing bets that the US central bank may cut interest rates early next year.<\/p>\n\n\n\n
Gold in spot transactions fell 0.4 percent to $2,062.80 an ounce by 0823 GMT. US gold futures fell 0.4 percent to $2,082.40.<\/p>\n\n\n\n
Among the main reasons behind gold’s decline is the rise in the dollar index by 0.3 percent, which makes the yellow metal more expensive for holders of other currencies.<\/p>\n\n\n\n
Earlier in the Asian session, gold jumped almost 2 percent to a record level of $2,111.39 amid renewed expectations of lowering interest rates after comments by Federal Reserve Chairman Jerome Powell on Friday, who said that there is no current thought about lowering interest rates.<\/p>\n\n\n\n
Friday’s US non-farm payrolls data could also impact interest rate expectations.<\/p>\n\n\n\n
As for other precious metals, silver fell 1.3 percent to $25.13 per ounce, palladium fell 2.6 percent to $974.12, and platinum fell 1.3 percent to $920.39.<\/p>\n","protected":false},"excerpt":{"rendered":"
Gold prices fell after rising to all-time highs earlier on Monday, but remained above the key $2,000 level supported by growing bets that the US central bank may cut interest rates early next year. Gold in spot transactions fell 0.4 percent to $2,062.80 an ounce by 0823 GMT. US gold futures fell 0.4 percent to …<\/p>\n","protected":false},"author":9,"featured_media":77716,"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":[6885,9278,9358,10754],"class_list":["post-93494","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-forex-markets","category-market-updates","tag-fed","tag-gold-price","tag-hawkish-stance","tag-monetary-policy-easing"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/93494","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=93494"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/93494\/revisions"}],"predecessor-version":[{"id":93495,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/93494\/revisions\/93495"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/77716"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=93494"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=93494"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=93494"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}