WASHINGTON (dpa-AFX) - Gold prices fell on Monday, snapping a three-day winning streak, as a stronger greenback and profit taking weighed on the yellow metal.
The dollar index climbed to 100.42, rising nearly 0.2% over previous close, amid expectations of more interest rate hikes from the Federal Reserve.
The Fed raised rates for the first time since 2023 last week due to elevated inflation. It is widely expected that the central bank will hike interest rate once more this year.
Meanwhile, investors await a scheduled meeting between U.S. President Donald Trump and Chinese President Xi Jinping this week for signs of progress in trade discussions.
On the Middle East front, traders are looking ahead to a meeting between Trump and Gulf-state leaders on the sidelines of the UN General Assembly this week.
Gold futures for December were around $4,385.00 an ounce at close, losing about 0.8%.
Silver futures have slipped to $66.530 an ounce, losing about 0.9%.
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