Gold Prices Fall Amid Fed Rate Expectations

Gold prices declined on Monday under pressure from profit-taking amid expectations that the US Federal Reserve will keep interest rates unchanged at its upcoming September meeting.

The spot price of gold fell by 0.5% to $4,330.37 per ounce, while US gold futures for December delivery dropped by 0.8% to $4,386.80.

This comes after gold had climbed on Thursday to its highest level since June 5, before retreating 1.3% and erasing its weekly gains.