Gold prices fell on Monday, influenced by a rising dollar, down 0.5% to $1980.42 per ounce, while U.S. gold futures also dropped 0.5% to $1989.10. The dollar index increased by 0.2%, making the dollar-denominated yellow metal more expensive for foreign buyers.
The Federal Open Market Committee will meet tomorrow, Tuesday, and the day after, Wednesday, with investors anticipating a 25 basis point interest rate hike.
Moreover, expectations are growing that the European Central Bank will raise interest rates in its meeting next Thursday for the seventh consecutive time.
As for other precious metals, silver rose by 0.1%, reaching $25.06 per ounce, while platinum decreased by 0.7% to $1066.56, and palladium fell by 0.4% to $1495.06.
