Gold Prices Dip as Dollar Strengthens

Today, Thursday, gold prices dropped due to the rise in the dollar, as investors eagerly await key U.S. inflation data to gain further insights on the trajectory of interest rates.

Spot gold fell by 0.3 percent to $4082.95 per ounce by 0144 GMT.

U.S. gold futures for December delivery increased by 0.8 percent, reaching $4097.40 per ounce.

The dollar index rose by 0.1 percent against major currencies, making gold more expensive for holders of other currencies.

Regarding other precious metals, silver decreased by 0.4 percent, reaching $48.31 per ounce in spot transactions. Platinum declined by 1.4 percent to $1598.65, and palladium dropped by 1.4 percent to $1438.47.