New York:Spot gold prices decreased by 0.7 percent to US$4,039.26 per ounce on Thursday. This decline was attributed to a stronger dollar after the US Federal Reserve maintained its interest rates.
According to Emirates News Agency, the market is now focused on the upcoming release of US personal consumption expenditures (PCE) inflation data. This data is anticipated to provide further insight into the monetary policy outlook, with traders currently estimating a 78 percent probability of an interest rate increase in December.
In addition to gold, other precious metals experienced mixed movements. Spot silver also fell by 0.7 percent to US$53.60 per ounce, while platinum saw a slight decrease of 0.3 percent to US$1,533.50. Conversely, palladium prices rose by 0.7 percent to US$1,017.29.
