Gold prices recorded a slight decline amid a gradual rise in the U.S. dollar. Increasing expectations of a U.S. interest rate cut supported the precious metal and halted its sharp fall after Federal Reserve Chairman Jerome Powell hinted at lowering interest rates.
Spot gold fell by 0.2 percent to $3,364.25 per ounce. U.S. gold futures for December delivery dropped by 0.3 percent to $3,409.80.
The dollar index rose 0.2 percent against rival currencies after hitting its lowest level in four weeks, making gold less attractive to foreign buyers.
Source (Al Arabiya.Net Website, Edited)
