The price of gold fell 1% on Monday as investors took profits after a five-session rally, reaching a three-week high. The decline was further influenced by the appointment of Scott Bessent as the new U.S. Treasury Secretary, which eased market concerns about trade wars, reducing the demand for gold as a safe-haven asset. Additionally, market participants are closely watching the upcoming Federal Reserve’s November FOMC meeting minutes, GDP data, and core PCE figures, with a 56% chance of a 25 basis point rate cut expected in December.