Gold falls from its highest level in two weeks

Gold prices fell today, retreating from their highest levels in nearly two weeks, which they recorded in the previous session, while investors evaluate the possibility of a US interest rate cut in December amid conflicting signals from the Federal Reserve (the US central bank).
Gold in spot transactions fell 0.2 percent to $4,157.29 per ounce. US gold futures for December delivery fell 0.2 percent to $4,154.30 an ounce.
Carsten Meinke, an analyst at Julius Baer, ​​said, “The factors that we see supporting the gold market have not changed to a large extent, including the slowdown in growth in the United States, which led to lower interest rates and a weak dollar, sustained demand for safe haven assets, and the continuation of strong purchasing operations by central banks.”
The precious metal has fallen five percent since hitting a record high of $4,381.21 on October 20, but it is widely trading above the important level of $4,000 an ounce.
According to CME’s Fed Watch tool, the market expects 85 percent of a rate cut in December.
Non-yielding gold tends to rise when interest rates are low.
As for other precious metals, silver fell in spot transactions 0.3 percent to $53.17 per ounce, platinum rose 1 percent to $1,604.72, and palladium rose 0.5 percent to $1,430.40.