Gold prices ended Monday lower despite the mounting pressures on the US dollar after a Fed official ruled out the possibility of interest rate cut before December 2024.

 

Gold futures for August delivery fell 0.9%, or $20.1, to $2,329 per ounce.

 

The dollar index, which measures the US currency against a basket of major peers, declined by 0.20% to 105.35 points at 09:32 pm Makkah time.

 

Minneapolis Federal Reserve President Neel Kashkari on Sunday said it’s a “reasonable prediction” that the U.S. central bank will cut interest rates once this year, waiting until December to do it.

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26.96 0.66%
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0.55 0.92%
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(1.60) (0.09%)

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