Gold prices fell on Tuesday as a stronger dollar and profit-taking weighed on the metal after it hit a record high in the previous session on expectations of further US Federal Reserve rate cuts and safe-haven demand. Spot gold dropped 0.7 per cent to $4,323.69 per ounce by 0634 GMT, after reaching an all-time high of $4,381.21 on Monday, while US gold futures eased 0.4 per cent to $4,340.10. The dollar index rose 0.2 per cent, making bullion more expensive for non-US buyers. Analysts said the pullback reflected short-term profit-taking, with investors still expecting gains as long as the Fed maintains its rate-cutting path. Markets are pricing in quarter-point cuts this month and again in December. Traders now await US inflation data due Friday, which is forecast to show a 3.1 per cent annual rise in September, after delays caused by the ongoing government shutdown. Attribution: Reuters
