Riyadh:Gold prices dipped in early Asian trading on Tuesday, influenced by the strengthening US dollar as investors await the Federal Reserve's policy meeting this week for insights into future interest rates.
According to Saudi Press Agency, spot gold decreased by 0.1% to $4,013.70 per ounce, while US gold futures for December delivery fell by 0.3% to $4,027.10. The appreciation of the dollar makes gold, which is denominated in the US currency, more costly for those using other currencies.
In the broader precious metals market, spot silver experienced a slight increase of 0.1%, reaching $53.97 per ounce. Meanwhile, platinum remained unchanged at $1,527.81, and palladium saw a decline, falling 0.7% to $1,042.43.