Gold prices down as Fed rate cut bets slows

Gold prices dropped in early trading at 6:03 GMT on Wednesday, as bets on slower Federal Reserve interest rate cuts grew.

Spot gold prices fell by 0.15 per cent to $2,618.11 per ounce, compared to the Tuesday’s closing price of $2,621.94. While, US gold futures gained 0.06 per cent to $2,636.90, compared to Friday’s closing of $2,635.4.

Attribution: Amwal Al Ghad English

Subediting: M. S. Salama