Gold drops as investors await US interest rate decision next week
Amman1 min read
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Gold prices fell in early Asian trade on Thursday, as investors awaited the Federal Reserve (the US central bank) meeting next week for clues on the path of interest rates, amid expectations they will be kept unchanged this month.
Spot gold fell 0.6% to $4,115.50 per ounce by 0040 GMT, after hitting its lowest level since October 15 on Wednesday at $4,104.33.
US gold futures for December delivery fell 0.4% to $4,132.30 per ounce.
The precious metal's decline came as the region witnessed security developments, as the Saudi Ministry of Energy announced the death of two people on Wednesday after air defenses intercepted a drone attempting to target a facility at Saudi Aramco's Shaybah oil field.
The US State Department ordered some diplomats and their family members to leave its missions in Saudi Arabia, while US officials told Reuters that the United States intends to withdraw family members of diplomats from a number of its other missions in the region.