Gold prices fell during today's trading as markets followed the Federal Reserve's recent decision, coinciding with the dollar's rise against most major currencies.

The US Federal Reserve has cut a quarter of a point from the interest rate to between 2.00% and 2.25% from 2.50%, which is the first cut since 2008, and the central bank hinted that it could be cut again this year.

The dollar index rose by 0.2% to 98.3 points at 18:32 GMT, with a high of 98.4 points and a low of 98.01 points.

US President Donald Trump expressed his disappointment over the Federal Reserve's decision as he hoped for a larger interest rate cut to boost the economic growth.

Gold futures (December delivery) fell by 0.3% to $1437.8 per ounce, the precious metal hit the highest price of the day at $1447.8 and the lowest at $1428.2.

The US Federal Reserve decided today to cut interest rates for the first time in more than a decade, in a move that was widely expected by markets after hints from central bank officials recently.

The Federal Reserve has cut a quarter of a point from the interest rate to between 2.00% and 2.25% from 2.50%, which is the first cut since 2008.

In his testimony before Congress, Federal Reserve Chair, Jerome Powell, spoke about pressure on the economy, including the trade war and financial market volatility, which was interpreted by markets as a hint of a rate cut.

Powell will soon hold a press conference to comment on the decision and explain the central bank's monetary policy and the state of the economy.

US dollar stabilized against most of its major counterparts as markets are closely focusing on the interest rate decision from the Federal Reserve.

ADP data showed that the US private sector has added 156,000 jobs this month, exceeding expectations.

The Federal Reserve will soon unveil its interest rate decision amid expectations for a quarter-point cut to 2.25% from 2.50%.

After the decision, Central Bank President Jerome Powell will deliver a speech at a press conference, to comment on the interest rate decision and talk about the bank's monetary policy in the short term.

The trade war continues to raise concerns in the markets, with US President Donald Trump saying recently that China is trying to stall negotiations until the end of the presidential elections in 2020.

In terms of trade, by 17:33 GMT, the dollar index (against a number of major currencies) rose by less than 0.1% to 98.1 points, with a high of 98.2 points and a low of 98.01 points.

Oil prices rose during today's trading and extended gains after data showed US inventories fell more than expected in the weekly reading, but later trimmed those gains.

The US Energy Information Administration revealed that the country's oil inventories fell by 8.5 million barrels last week, while markets expected a decline of about 2.1 million barrels.

The official data came higher than the data from the American Petroleum Institute, in which it announced yesterday that crude inventories fell by 6.024 million barrels.

The markets are focusing on the Federal Reserve, which will announce its interest rate decision, with expectations for a 2.25% reduction from 2.50%, and the focus will then shift to the press conference of Central Bank President Jerome Powell.

In terms of trading, West Texas rose by 0.4% to $58.3 per barrel, the highest price at $58.8 and the lowest at $57.9.

Brent climbed 0.7% to $65.1 per barrel, with a high of $65.4 and a low of $64.9.