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Gold prices fall amid rising dollar
Gold prices declined today as the dollar rose due to weak economic data, which affected expectations of a U.S. interest rate hike in October. The spot gold price dropped 0.3% to approximately $4,131.61 per ounce, and futures contracts decreased 0.1% to $4,159.30. Additionally, the dollar index increased by 0.6%, making the metal more expensive for buyers using other currencies. Data indicates that U.S. job growth slowed in September, reducing the likelihood of a rate hike in October to 18%, with a possible increase expected in December. In the precious metals sector, silver rose by 0.9% to $60.94, platinum increased by 0.5% to $1,706.18, while palladium declined by 0.2% to $1,165.40.
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