Gold prices fell as investors awaited the monetary policy decision from the Federal Reserve (US central bank) later today, after concerns about the conflict in the Middle East boosted the prices of the safe-haven yellow metal to exceed two thousand dollars per ounce last month.
Spot gold fell 0.2% to 1978.36 dollars per ounce, while US gold futures fell 0.4% to 1987.00 dollars.
The gold price in spot transactions jumped 7.3% in October, reaching the highest level in more than five months at 9.29 dollars last week.
For other precious metals, silver in spot transactions fell one percent to 22.662 dollars per ounce. Platinum fell 0.6% to 927.77 dollars, and palladium rose 0.5% to 1120.91 dollars per ounce.
Markets are now awaiting the outcome of the Federal Reserve’s monetary policy meeting, which will conclude later on Wednesday, followed by the monthly US jobs report on Friday.