Gold prices fell during Monday’s trading, despite the stability of the dollar, but the precious metal came under pressure amid uncertainty ahead of the Federal Reserve meeting.
The US Federal Reserve will start its meeting tomorrow, Tuesday, to discuss monetary policy developments in light of recent economic developments, especially with regard to inflation.
Markets expect the Fed to raise interest rates by 75 basis points as part of its efforts to control rising inflationary pressures.
The dollar index ( once morest a basket of major currencies) settled at 109.78 points
Gold futures for December delivery settled down 0.3% to $1,678.20 an ounce, the lowest level since April 2020.
