New York, October 31: Gold prices edged lower on Friday as the US dollar strengthened amid uncertainty over the Federal Reserve’s interest rate outlook. Spot gold slipped 0.4% to $4,005.54 per ounce as of 0459 GMT, as investors turned cautious ahead of potential signals on whether the Fed will proceed with further rate cuts. A firmer dollar typically makes bullion more expensive for holders of other currencies, pressuring short-term demand.
Despite the decline, gold remains on track to register its third consecutive monthly gain, supported by safe-haven inflows and persistent economic concerns. Bullion has risen 3.9% so far this month, reflecting sustained investor interest. Meanwhile, US gold futures for December delivery traded steady at $4,018.10 per ounce, indicating that broader market sentiment toward gold remains resilient despite near-term fluctuations.
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