Gold falls as investors evaluate US rate cut prospects

An employee holds one kilogram gold bullion at the YLG Bullion International Co. headquarters in Bangkok, Thailand, on Friday, Dec. 22, 2023. - Photographer: Chalinee Thirasupa/Bloomberg

GOLD prices fell on Thursday as investors assessed the prospects of monetary policy easing in the U.S. this year, after the Federal Reserve indicated the progress on inflation has stalled and interest rates would stay higher for longer.

Spot gold fell 0.9% at $2,297.39 per ounce by 1202 GMT.