Published: 2018.11.05. Gold Prices Slip, Dollar Unchanged Ahead of Fed, U.S. Mid-term Elections

Gold Prices Slip, Dollar Unchanged Ahead of Fed, U.S. Mid-term Elections - Preview

Gold prices slipped while the dollar was unchanged on Monday as traders awaited the U.S. mid-term elections and the Federal Reserve’s November meeting due later this week.

Gold futures for December delivery on the Comex division of the New York Mercantile Exchange slipped 0.03% to $1,232.9 a troy ounce by 12:20 AM ET (04:20 GMT).

The U.S. Fed will begin its two-day meeting on Wednesday, with markets anticipating no change to interest rates ahead of a widely expected rate hike in December.

Gold prices slipped lower on Friday as the dollar pushed higher following the release of a stronger-than-expected U.S. jobs report for October.

Official data released on Friday revealed that U.S. jobs growth rebounded in October and wages recorded their largest annual gain in 9-1/2 years.

"The jobs data has reaffirmed the dollar's strength due to the rates differential factor going forward. The risk is that the markets may be caught surprised by a more hawkish Fed," said Rodrigo Catril, senior currency strategist at NAB.

The dollar index last traded at 96.27, down 0.02%.