Doha: Gold prices touched their lowest levels in more than three weeks on Thursday, as the dollar strengthened after Donald Trump’s win in the US presidential election, while focus shifted to the Federal Reserve for its decision on interest rates later in the day. Spot gold fell 0.1% to $2,656.34 per ounce, after hitting its lowest level since Oct. 15 earlier in the session.

According to Qatar News Agency, bullion hit a record high of $2,790.15 last week and has lost more than $130 since then. US gold futures shed 0.5% to $2,663.60. The dip in gold prices comes amidst anticipation of the Federal Reserve’s potential interest rate decision, which could further influence the market dynamics.

Spot silver fell 0.4% to $31.03 per ounce, platinum slipped 0.3% to $983.73, and palladium declined 0.7% to $1,028.25. All three metals were down for a second straight session, reflecting the broader trend of falling precious metal prices amid a stronger dollar and post-election market adjustments.