Gold eases on firmer dollar ahead of Fed decision Reuters
Gold eases on firmer dollar ahead of Fed decision - Reuters
In short
Gold prices fell on Tuesday as a stronger dollar and Fed rate hike expectations dampened demand, with the US dollar index rising 0.4% to 97.62 and gold futures for December delivery falling 0.3% to $1,298.60 per ounce. The Fed's December decision is expected to further strengthen the dollar and reduce gold demand. The market is closely watching for potential impacts on the global economy and gold prices.
Key points
- Gold prices fell on Tuesday, as a stronger dollar and expectations for a Federal Reserve…: Gold prices fell on Tuesday, as a stronger dollar and expectations for a Federal Reserve interest rate hike in December dampened demand for the precious metal.
- The US dollar index, which measures the value of the greenback against a basket of major…: The US dollar index, which measures the value of the greenback against a basket of major currencies, rose 0.4% to 97.62, while gold futures for December delivery fell 0.3% to $1,298.60 per ounce.
- The Federal Reserve is expected to announce a rate hike in December, which could further…: The Federal Reserve is expected to announce a rate hike in December, which could further strengthen the dollar and reduce demand for gold.