Gold falls from 6-year high as dollar rises for 5th straight session

Gold futures fluctuated lower during the Asian session, to bounce from 6-year high for the third session in five, as US dollar rose, according to the inverse relation between them, with a lack of economic data by the US economy in the beginning of this week, which will witness the release of the last US Fed meeting minutes and the launch of the Jackson Hole Symposium in addition to Fed Governor Jerome Powell's speech next Friday.

As of 04:02 GMT, gold futures (December 15th delivery) fell by 0.27% to $1,519.40 an ounce from the opening of $1,523.00 an ounce, while US dollar rose by 0.03% to 98.20 from the opening of 98.17.

Investors anticipate the US Federal Reserve Vice Governor Randall Quarles' speech on community development at the Utah Center for Stabilization of Neighborhoods in Salt Lake City on Tuesday, ahead of the release of July's FOMC meeting minutes.

During the last Fed's meeting in Washington at July 30-31, US monetary policymakers cut interest rates for the first time in more than a decade by 25 basis points to between 2.00% and 2.25%, in line with forecasts, while stressing that the cut came to support the growth pace and to counter weak inflation signs due to trade protectionism.

Markets are also anticipating the launch of the US Federal Reserve's Jackson Hole Economic Symposium by next Thursday, which will be attended by global central bankers and finance ministers as well as academics and financial market participants from around the world, while on Friday Fed's Chair, Jerome Powell, will deliver a speech titled "Challenges of Monetary Policy".