Gold logs weekly loss as bond yields climb

Gold prices fell today as investors shifted toward the bond markets amid improved risk appetite, despite dollar fall.

The US Federal Reserve will start its meeting next week with forecasts of a quarter-point rate cut to 2.00% from 2.25% for the second time this year.

President Trump renewed his requests of the US Federal Reserve and its Chair Jerome Powell to cut interest rates to zero or below to support the economy.

Experts see that Trump wants to support the economic growth and the US stocks market as strength points in his campaign for the 2020 presidential election.

Otherwise, the dollar index fell against a basket of currencies by 0.1% to 98.2 points as of 18:20 GMT, with a high of 98.4 and a low of 98.0.

At the session close, gold futures (December delivery) fell by 0.5% to close at $1499.5 an ounce, and posted a weekly loss of 1.1%, with an intraday high of $1516.6 and a low of $1495.7.