Gold falls as dollar weakens ahead of US rate decision
Gold prices slightly declined by 0.7%, reaching around $4,048 per ounce, amid a strengthening dollar that maintained its highest level in a month, making gold priced in other currencies more expensive for buyers. This comes ahead of the Federal Reserve's decision on monetary policy and the likelihood of interest rate hikes, with a 62% probability that interest rates will remain unchanged, while expectations of a hike in September increase to 38%. Other precious metals also fell, with silver dropping by 1.9% and platinum by 1%, as markets await the results of the upcoming Federal Reserve meeting.
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