Gold falls despite mounting pressures on dollar

 Gold prices ended Monday lower despite the mounting pressures on the US dollar after a Fed official ruled out the possibility of interest rate cut before December 2024.

Gold futures for August delivery fell 0.9%, or $20.1, to $2,329 per ounce.

The dollar index, which measures the US currency against a basket of major peers, declined by 0.20% to 105.35 points at 09:32 pm Makkah time.

Minneapolis Federal Reserve President Neel Kashkari on Sunday said it’s a “reasonable prediction” that the U.S. central bank will cut interest rates once this year, waiting until December to do it.