Gold Dips Amid Mixed US Data and Profit-Taking

Gold prices fell over 1% as investors took profits after reaching a five-week high, ahead of the U.S. Federal Reserve meeting next week. The market anticipates a December rate cut, with the CME's FedWatch tool indicating a 98% likelihood. Rising inflation and jobless claims suggest an easing labor market, increasing the chances of a rate cut despite inflation not meeting the Fed's 2% target. Other precious metals also saw declines, with silver, platinum, and palladium all dropping in value.