MUSCAT : Spot gold dipped 0.1 percent to $4,039.19 an ounce, while U.S. gold futures for December delivery slid 0.9 percent to $4,038.60. The downturn comes as the dollar index held steady after a sharp rise in the previous session, making the precious metal more expensive for buyers using other currencies.
Market sentiment has also been shaped by last week’s agreement to end the longest U.S. government shutdown in history. The absence of official economic data during the shutdown weakened expectations that the Federal Reserve would move forward with another interest rate cut in December.
Investors are now turning their attention to a series of U.S. economic releases this week, most notably the September non-farm payrolls report due Thursday.
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Among other precious metals, silver fell 0.4 percent to $50 an ounce, platinum inched up 0.3 percent to $1,538.74, while palladium declined 0.5 percent to $1,386.01 in spot trading.
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