Gold prices slip on dollar strength, profit-taking

Gold prices fell on Monday due to a stronger dollar and profit-taking, ending a four-session rally. Investors await important US economic data to gauge the Federal Reserve’s monetary policy stance.

Spot gold prices fell at 7:14 GMT by 0.91 per cent to $2,629.52 per ounce, compared to the weekend’s closing price of $2,653.55. Meanwhile, US gold futures fell 1.09 per cent to $2,651.90, compared to Friday’s closing of $2,681.

Attribution: Amwal Al Ghad English, Reuters

Subediting: M. S. Salama