Gold Falls Ahead of US Rate Decision
Gold prices declined at the start of Asian trading as investors awaited the U.S. Federal Reserve's decision on interest rates next week, amid concerns over persistent inflation. The spot price of gold fell by 1.24% to approximately $4,090 per ounce, after reaching its lowest level since October 15 at $4,104. Economists largely expect no rate hike this month despite ongoing inflation, ahead of the Fed's meetings on October 27-28 and the upcoming personal consumption expenditures data, which will shape inflation trends and its 2% target. Other precious metals such as silver, platinum, and palladium also declined, influenced by expectations of interest rate and inflation movements.
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