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Gold prices settled near their lowest levels in three months as investors await the Federal Reserve’s policy meeting scheduled for later this week. At 00:37 GMT, spot gold fell 0.2 % to $3,987.45 per ounce, after reaching a session low that was the lowest since mid‑July. The metal also posted a 4 % weekly decline on Friday, the largest weekly drop since June, according to Reuters. U.S. December gold futures slipped 0.2 % to $4,000.80 per ounce. Oil prices fell on Monday after a near‑six‑month rally earlier in the week, as supply concerns resurfaced. A Reuters‑source reported that Qatari brokers visited Tehran on Sunday as part of efforts to ease regional tensions in coordination with the United States. Markets are also watching the Federal Reserve’s policy meeting and upcoming personal consumption expenditures data, a key inflation gauge the central bank closely monitors in its pursuit of a 2 % inflation target. Other precious metals moved modestly: silver in spot trading rose 0.2 % to $54.00 per ounce, platinum fell 0.1 % to $1,549.42 per ounce, and palladium increased 0.4 % to $1,047.90 per ounce. Article source: Al Bilad | Image credit: Al Bilad
Gold prices settled near their lowest levels in three months as investors await the Federal Reserve’s policy meeting scheduled for later this week. At 00:37 GMT, spot gold fell 0.2 % to $3,987.45 per ounce, after reaching a session low that was the lowest since mid‑July. The metal also posted a 4 % weekly decline on Friday, the largest weekly drop since June, according to Reuters. U.S. December gold futures slipped 0.2 % to $4,000.80 per ounce. Oil prices fell on Monday after a near‑six‑month rally earlier in the week, as supply concerns resurfaced. A Reuters‑source reported that Qatari brokers visited Tehran on Sunday as part of efforts to ease regional tensions in coordination with the United States. Markets are also watching the Federal Reserve’s policy meeting and upcoming personal consumption expenditures data, a key inflation gauge the central bank closely monitors in its pursuit of a 2 % inflation target. Other precious metals moved modestly: silver in spot trading rose 0.2 % to $54.00 per ounce, platinum fell 0.1 % to $1,549.42 per ounce, and palladium increased 0.4 % to $1,047.90 per ounce.
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