Doha: Gold prices edged lower on Wednesday, pressured by an uptick in the dollar, although renewed concerns over the US central bank independence after US President Donald Trump’s threat to fire Federal Reserve Governor Lisa Cook lent support to bullion. Spot gold was down 0.2% at $3,384.49 per ounce, after hitting its highest level since Aug. 11 on Tuesday. US gold futures for December delivery were flat at $3,434.20.

According to Qatar News Agency, the dollar index rose about 0.2% against its rivals, making gold less attractive for other currency holders. The rise in the dollar index contributed to the slight decrease in gold prices as investors reevaluated their positions amidst the ongoing political developments concerning the US Federal Reserve.