Gold and silver slip on dollar

Gold and silver prices declined on global markets Wednesday as a stronger US dollar weighed on sentiment while investors awaited minutes from the Federal Reserve's September policy meeting.

According to Reuters, spot gold fell 0.8% to $4,130.37 per troy ounce by 06:27 GMT, while US gold futures declined 0.7% to $4,157 per ounce. Concurrently, Goodreturns data showed spot silver dropped approximately 1% to around $60.90 per ounce.

A firmer greenback continues to exert downward pressure on precious metals as traders seek monetary policy clues from the impending Fed minutes regarding the trajectory of US interest rates. Bullion losses were partially cushioned by continued gold reserve purchases from the People's Bank of China.

N.Tebrizli