- Gold prices fell in early global trading on Monday, pressured by a stronger US dollar, while investors awaited fresh indications on the path of the US Federal Reserve's monetary policy.
- Spot gold fell 0.5% to $2,732.90 an ounce, while U.S. gold futures fell 0.33% to $2,745.30 an ounce, according to Reuters data.
- Gold prices hit a record high of $2,758.37 an ounce on Wednesday, while last week's trading ended up nearly $1%.
- The dollar index rose 0.2%, making gold less attractive to holders of other currencies, and the yield on US Treasury bonds rose.
- Data last Friday showed that US consumer confidence rose to a six-month high in October, with the rise most pronounced among Republicans who became more confident in Donald Trump's victory.
- According to the CME FedWatch market monitoring tool, markets are pricing in a 94.8% rate cut of 25 basis points at the Fed's November meeting.
- There is uncertainty as the US elections approach on November 5, with opinion polls indicating a tight race between Donald Trump and Kamala Harris.
- As for other precious metals, silver in spot transactions fell 0.4% to $33.57 per ounce, while palladium rose 0.23% to $1,025.15 per ounce, and platinum fell 0.2% to $1,190.97 per ounce.
