By: Mahmoud Gamal
Mubasher: Gold prices declined on Tuesday, amid profit-taking as investors expect a Federal Reserve rate hike this week.
Gold prices went down 0.04% to reach $1,159 per ounce by 4:25am GMT, while gold futures fell 0.08% to stand at $1,164 per ounce.
The US dollar (DXY), which tracks it against a basket of six currencies, went up 0.03% to reach 101.6 points during the same time.
Traders are cautious ahead of the Federal Reserve two-day policy meeting on Tuesday, which is widely expected to result in an increase in US interest rates, analyst Mohamed Abdullah told Mubasher.
Translated by: Julian Nabil
