Gold falls as dollar steady near 6-month high

Gold bars 

Gold futures fell on Monday as the US dollar held firm near a six-month high, while investors awaited clearer signals on the Federal Reserve’s interest-rate path.

December gold futures dropped 0.65%, or $27, to $4,052.50 an ounce.

Spot gold eased 0.25% to $4,054.39 an ounce, while spot silver was little changed at $50.01.

The US Dollar Index, which tracks the greenback against six major currencies, was steady at 100.14 as of 09:21 a.m. Makkah time.

December silver futures edged down 0.6% to $50.25 an ounce, while spot platinum rose about 1.15% to $1,538.66 and palladium gained 0.6% to $1,388.76.

“The dollar index is up near six-month highs, it’s above 100 and if it continues to trade above 100, then there will be further pressure on gold prices,” said Jigar Trivedi, senior research analyst at brokerage Reliance Securities.