10:58 - 14.10.2024

---

October 14, Fineko/abc.az. On Monday, gold prices declined under pressure from the strengthening US dollar, while investors are waiting for new signals from the Federal Reserve about lowering interest rates.

ABC.AZ reports that the spot price of gold fell 0.2% to $2,651.99 per ounce, after rising 1% in the previous session. U.S. gold futures lost 0.3% to reach $2,669.20.

The dollar index rose 0.1%, remaining close to the two-month high reached last week. A stronger dollar makes gold less attractive to holders of other currencies.

KIM Trade analyst Tim Waterer noted that the high probability of a Fed rate cut creates obstacles to the growth of gold prices.