Gold falls as trade war fears boost US dollar

Gold prices dropped by almost one per cent on Monday after reaching a record high in the previous session, due to a stronger US dollar amid concerns about a global trade war following President Trump’s tariff actions.

Spot gold prices dropped by 0.44 per cent to $2,788.76 per ounce at 7:43 GMT, compared to the previous closing price of $2,801.

Meanwhile, US gold futures also decreased 0.41 per cent to $2,823.39, compared to Friday’s closing of $2,835.

Attribution: Amwal Al Ghad English, Reuters

Subediting: M. S. Salama