Gold falls ahead of Fed rate hints

Gold prices declined today, Thursday, as the market awaits the Federal Reserve Board meeting scheduled for next week, during which they will discuss the path of interest rate hikes and their impact on inflation. Gold fell by 0.6 percent to reach $4,115.50 per ounce, after hitting a low of $4,104.33, the lowest since October 15. Investors are expected to focus on upcoming personal consumption expenditure (PCE) data, scheduled for release next week, which will provide an indication of inflation trends. The ongoing concern over rising interest rates continues to exert downward pressure on gold prices. Additionally, other precious metals also declined: silver dropped by 1.1 percent to $57.33, platinum by 1.1 percent to $1,609.95, and palladium by 0.8 percent to $1,078.52.

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