Gold prices dip as US Federal Reserve signals tighter policy
Gold prices fell on Monday amid expectations that the US Federal Reserve will maintain a tight monetary policy.
Key Takeaways
AIGold prices declined in Monday trading, amid expectations that the US Federal Reserve will continue tightening its monetary policy in the coming period.
Spot gold fell 0.3% to $4,332.34 per ounce. US gold futures also dropped 0.3% to $4,370.40 per ounce.
Changes in other precious metals prices
Meanwhile, silver prices slipped 0.4% to $65.76 per ounce. Platinum rose 1.4% to $1,822.58, while palladium gained 0.9% to $1,312.16 per ounce.
Gold prices are typically influenced by US monetary policy expectations, as tighter policies tend to strengthen the dollar and reduce the appeal of the precious metal.