Gold Declines as Focus Shifts to Interest Rate Decision

Gold experienced a dip on Wednesday, influenced by a slight rise in the dollar and profit-taking following its record high in the previous session. This movement comes amid expectations that the U.S. Federal Reserve might lower interest rates.

Gold's spot transactions fell by 0.2 percent to reach $3681.23 per ounce by 02:56 GMT, after reaching a record peak of $3702.95 on Tuesday.

Meanwhile, U.S. gold futures for December delivery decreased by 0.2 percent, settling at $3718.90.

In other precious metals, silver in spot transactions dropped 1.3 percent to $41.98 per ounce. Platinum saw a minor increase of 0.1 percent, rising to $1392.25. Palladium rose by 0.5 percent, achieving $1182.21.