WASHINGTON (dpa-AFX) - Gold prices were moving lower on Thursday due to profit taking amid the dollar's rise against its peers.
Spot gold dipped 0.4 percent to $4,188.73 an ounce while U.S. gold futures were down 0.3 percent at $4,218.10.
The dollar index reclaimed the level of 99 after slipping to 98.85 in the previous session on rising Fed rate-cut expectations.
Weak ADP jobs data released on Wednesday reinforced views that the Federal Reserve will cut interest rates by 25 basis points next week.
Payrolls processor ADP reported that private sector employment surprisingly declined by 32,000 in November after climbing by an upwardly revised 47,000 jobs in October. Economists had expected an increase of 10,000 jobs for the month.
Separate data revealed that U.S. services activity expanded at a slightly faster pace in November.
The U.S. Federal Open Market Committee (FOMC) will meet on December 9-10 to decide on the benchmark interest rates.
According to the CME's FedWatch tool, markets currently price in an 89 percent chance that the Fed will cut the federal funds target by another quarter of a percent on December 10.
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