Market News
Dollar rally pushes gold to near two-month low as traders await Fed cues - REUTERS
- Gold touches lowest price since Sept. 20
- US dollar hits more than four-month peak
- Gold poised to rise with support at $2,600, analyst says
- US CPI data due on Wednesday
Nov 12 (Reuters) - Gold prices fell to nearly a two-month low on Tuesday in the face of a stronger dollar, optimism about economic growth under a second Trump administration, and a broader market pivot following the Nov. 5 U.S. presidential election.
Spot gold was down 0.7% at $2,600.93 per ounce by 2:23 p.m. EST (1923 GMT), after dropping 1% to hit its lowest level since Sept. 20 at $2,589.59 earlier in the session. U.S. gold futures GCv1 settled 0.4% lower at $2,606.30.
