Gold falls over 1% as dollar gains ahead of Fed decision

Gold prices declined by more than 1% today, influenced by the rising dollar and investors awaiting the Federal Reserve's decision on monetary policy and interest rates. The spot price of gold dropped by 1.3% to approximately $4,024 per ounce, while futures also fell by 1.4%. The dollar remaining near its highest levels in four weeks and increasing expectations of a rate hike by the Federal Reserve diminish gold's appeal as a safe haven, especially amid falling oil prices and improved prospects for a deal between the U.S. and Iran. Meanwhile, other precious metals also declined.

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