Gold prices slipped on Friday, as the dollar firmed on uncertainty over further Federal Reserve rate cuts, although the bullion was still set for its third consecutive monthly gain.
Spot gold was down 0.3% at $4,011.60 U.S. per ounce, as of 0700 GMT. Bullion has gained 4% so far this month. U.S. gold futures
for December delivery rose 0.1% to $4,021.20 per ounce.
The dollar index held near its highest level in three months against its rivals, making bullion more expensive for other currency holders.
On Wednesday, the Fed cut interest rates by 25 basis points for the second time this year, taking the benchmark overnight rate to a target range of 3.75%–4.00%.
Traders scaled back bets of another rate cut at its next policy meeting in December after Chair Jerome Powell’s remarks.
Markets now price in a 74.8% probability of a 25-bp cut compared with 91.1% chance a week ago,
On Thursday, U.S. President Donald Trump said he had agreed to trim tariffs on China in exchange for Beijing cracking down on the illicit fentanyl trade, resuming U.S. soybean purchases and keeping rare earths exports flowing.
