Doha: Gold prices eased on Monday after touching a two-week high in the previous session, pressured by a firmer US Dollar. However, expectations of US interest rate cuts following a dovish pivot from Federal Reserve Chair Jerome Powell continued to lend support to the metal. Spot gold was down 0.2% at $3,364.25 per ounce, after hitting its highest since August 11 on Friday. US gold futures for December delivery eased 0.3% to $3,409.80.

According to Qatar News Agency, the US dollar index rose 0.2% against its rivals after dropping to a four-week low, making gold less attractive to overseas buyers. Elsewhere, spot silver was down 0.2% at $38.09 per ounce, platinum fell 0.3% to $1,356.95, and palladium slipped 0.6% to $1,119.67.