Gold prices slightly lower despite US dollar fall

Gold prices fell slightly today, Aug. 30, despite a decline in the US dollar amid forecasts that the US interest rate hike would continue for long time.

Investors are still anticipating the US jobs report that will be issued next Friday.

Gold futures for December delivery inched down 0.11% to $1,747.7 an ounce, while spot prices dropped 0.14% to $1,734.69 an ounce at 11:51 am Makkah time.

Silver futures declined 0.19% to $18.64 per ounce, and spot prices were flat at $866.82. Meanwhile, palladium prices stabilized at $2,147.25.

The dollar index, which measures the performance of the US currency against a basket of six major currencies, fell 0.33% to 108.479 points.