This morning, the global gold prices extended their drop, as spot gold decreased by 8.8 USD to reach 1,968.7 USD per ounce. Gold futures were last recorded at 1,973.5 USD per ounce, marking a 15.1 USD drop compared to yesterday's morning prices.
The resurgence of the USD during the evening trading session on November 7 reduced gold's attractiveness to buyers using different currencies.
Investors are eagerly awaiting a series of upcoming speeches by officials from the US Federal Reserve (Fed) this week, with particular anticipation for Fed Chairman Jerome Powell's address scheduled for Wednesday and Thursday.