Gold falls under pressure from the dollar and declining hopes for a rate cut in December. #Urgent

Gold prices fell on Thursday, affected by the strength of the dollar, and declining expectations that the Federal Reserve will cut interest rates in December, while investors await the publication of the delayed US jobs report due to the government shutdown.

The price of gold fell in Spot transactions fell by 0.4%, reaching $4,063.81 per ounce by 06:53 GMT, while US gold futures contracts (December delivery) fell by 0.5%, reaching $4,063.60 per ounce.

In other precious metals, silver fell in spot transactions by 0.6% to $51.07 per ounce, and platinum settled at $1,546.80, and palladium rose 0.6% to $1,388.58.
Meanwhile, the The dollarto its highest level in more than two weeks against its rivals, making gold more expensive for holders of other currencies.

On the monetary policy front, the minutes of the October Federal Reserve meeting, released on Wednesday, showed that the bank cut interest rates, despite policymakers warning that this could threaten to worsen inflation and lose public confidence in the central bank.
Traders now expect a near 33% probability of a rate cut at the Federal Reserve meeting on December 9-10, down from 49% on Wednesday.

The focus is currently on The US non-farm payrolls report for September, scheduled for release later today after being delayed due to the recent US government shutdown. The data is expected to provide additional indications on the Federal Reserve’s policy path regarding interest rates.

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