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Gold Declines as US Dollar Gains Momentum, Markets Await Fed Appointments

Gold prices edged lower today due to a slightly firmer American dollar, amid anticipation of decisions by the Federal Reserve (central bank).

Gold prices edged lower today due to a slightly firmer American dollar, amid anticipation of decisions by the Federal Reserve (central bank).

Spot gold was down 0.1 per cent at US$3,374.01 per ounce, after hitting a near two-week high on Tuesday.

Meanwhile, US gold futures fell 0.1 per cent to US$3,431.10.

The dollar opens new tab rebounded from a one-week low hit in the previous session, reducing gold’s appeal to holders of other currencies.

Spot silver was steady at US$37.82 per ounce, platinum slipped 0.5 per cent to US$1,313.94 and palladium fell 1 per cent to US$1,164.15.

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