Impact on gold

A stronger dollar is expected to weigh on gold, which saw prices fall 0.4 per cent to $1,299.30 (Dh4,772.32) per ounce, after losing 0.5 per cent in the past week.

“On most previous occasions during this present rate hike cycle, gold has tended to weaken ahead of FOMC [Federal Open Market Committee] meetings, only to rally strongly afterwards,” said Ole Hansen, head of commodity strategy at Saxo Bank.