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The U.S. dollar index fell 0.11 percent to 106.57, making gold prices more appealing for other currency holders
Several Federal Reserve officials this week are expected to provide additional insight into the U.S. rate cut trajectory
Geopolitical risks stemming from the Russia-Ukraine war and the ongoing conflicts in the Middle East continue to raise safe-haven demand for gold
The U.S. dollar index lost some of its recent gains after rising 1.6 percent last week
As of 05:02 GMT, Brent crude futures rose by 29 cents, or 0.4 percent, reaching $71.33 a barrel
Data on Thursday showed that U.S. producer prices picked up in October, adding to signs that progress toward lower inflation was stalling
The U.S. dollar rose to a one-year high while treasury yield rose to its highest since July
Brent oil price will average $75 per barrel in the fourth quarter of 2024 and over 2025-2027, which will be helpful for most GCC countries
Markets currently await the release of the U.S. Consumer Price Index data
Higher inflation levels may force the Fed to a slower easing path, further supporting the dollar and impacting gold prices
U.S. dollar held near a four-month high as investors continued to gravitate towards assets that are benefiting from Trump's election
The dollar gained 0.08 percent to 105.08 on Monday after marking significant gains following the U.S. Presidential election
Gold prices continued to decline as the U.S. dollar index was set for a slight weekly gain after Trump's election victory
This marks the second reduction by the central bank this year, following the initiation of its easing cycle in August
Trump's victory fueled questions about whether the Federal Reserve may proceed to cut rates at a slower and smaller pace
U.S. dollar surged to a near four-month high in reaction to the U.S. election exit polls, making bullion less attractive for other currency holders
Despite markets largely expecting the quarter-point cut this week, gold prices may still see a reaction to the decision
Early findings indicate that 73 percent of transactions were for off-plan or under-construction properties
Uncertainty surrounding the election and the U.S. central bank's policy decision could support gold prices this week
Gold prices have gained over 4 percent in October amid safe-haven flows spurred by Mideast tensions and U.S. election uncertainty
Gold prices have gained close to 5 percent so far this month and almost 41 percent in the past year
Uncertainty over the outcome of the U.S. election kept traders largely biased towards safe havens such as the dollar and gold
Recent gains place the dollar on track for its best month since April 2022
U.S election, along with Middle East tensions, might continue to act as a tailwind for gold prices
