Gold prices fell on Monday, with spot gold trading at approximately $4,069 an ounce, a 0.3% decrease, while US gold futures were around $4,071, down 0.5%. This decline comes as expectations of a US interest rate cut in December dropped to 45% from over 60% last week, according to the CME FedWatch tool.
The US dollar index has increased, making gold more expensive for international buyers, and investors await clarification on the Federal Reserve’s monetary policy following the end of the longest government shutdown in US history. Despite recent declines, gold prices have risen more than 55% this year, on track for the best annual performance since 1979, driven by safe-haven demand and significant central bank purchases.
