Gold Dips as Dollar Strengthens

Gold prices fell on Monday, influenced by the dollar's rise near its six-month highs and the reduced likelihood of a rate cut in December by the Federal Reserve.

At 0132 GMT, spot gold decreased by 0.3% to $4051.48 per ounce.

Gold futures for December delivery increased by 0.7% to $4049.50 per ounce.

The dollar reached its highest level in nearly six months on Friday, driven by signs of faster U.S. job growth in September, suggesting the Federal Reserve might pause interest rate cuts in December.

Among other precious metals, silver in spot transactions fell by 0.3% to $49.86 per ounce. Platinum rose by 1.1% to $1527.25, and palladium climbed by 0.7% to $1384.18 per ounce.