Gold Stabilizes as Market Awaits Fed's Interest Rate Decision

Gold prices remained stable on Monday as investors awaited a widely anticipated rate cut decision by the Federal Reserve this week. The gains were limited amidst profit-taking and a stronger dollar.

Spot gold held steady at $3642.65 per ounce by 0606 GMT. It had risen about 1.6 percent last week, reaching a record high of $3673.95 on Tuesday.

U.S. gold futures for December delivery fell 0.2 percent to $3680.20. Among other precious metals, silver increased 0.1 percent in spot trading to $42.20 an ounce.

Platinum rose 0.5 percent to $1397.59, while palladium climbed 0.2 percent to $1197.88.