Gold Nudges Lower as Dollar Holds Firm
Singapore, October 05 (QNA) – Gold prices eased on Monday as the US dollar firmed, giving back some of their earlier gains, although losses were limited after recent soft economic data sharply reduced expectations of a Federal Reserve rate hike in October.
Spot gold fell 0.3% at $4,131.61 per ounce. US gold futures for December delivery lost 0.1% to $4,159.30.
The US dollar index rose 0.6%, making dollar-denominated metals more expensive for holders of other currencies.
Among other metals, spot silver gained 0.9% to $60.94, platinum was up 0.5% to $1,706.18 and palladium fell 0.2% to $1,165.40. (QNA)