Muscat: Gold price fell for a fourth straight session today, weighed down by a firm dollar and diminished prospects of a US interest rate cut next month. Spot gold was down 0.1% at $4,039.19 per ounce. US gold futures for December delivery fell 0.9% to $4,038.60 per ounce. Elsewhere, spot silver eased 0.4% to $50 per ounce, platinum rose 0.3% to $1,538.74, and palladium fell 0.5% to $1,386.01.

According to Oman News Agency, the persistent strength of the US dollar has continued to apply downward pressure on gold prices, making the metal less attractive to investors holding other currencies. The situation has been compounded by the reduced likelihood of an interest rate cut by the US Federal Reserve next month, which further diminishes the appeal of non-yielding assets like gold. The silver market also experienced a slight decline, with prices easing by 0.4%. In contrast, platinum prices saw a modest increase, while palladium faced a drop.