Gold Falls as Dollar Rises amid Fed Signals

Gold prices dropped today, pressured by a stronger US dollar, while investors awaited fresh signals regarding the Federal Reserve's monetary policy trajectory. Spot gold fell 0.5% to $2,732.90 per ounce. Prices hit a record high of $2,758.37 on Wednesday while ending nearly 1% higher last week. US gold futures declined 0.33% to $2,745.30. The dollar index gained 0.2%, making gold less appealing for other currency holders, while US bond yields also rose. Markets are pricing in a 94.8% chance for a 25-basis-point cut at the Fed's November meeting, according to CME's FedWatch Tool. Spot silver fell 0.4% to $33.57 per ounce, palladium rose 0.23% to $1,025.15, and platinum edged 0.2 down to $1,190.97. Source: Oman News Agency