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Fears of reducing stimulus push gold to its lowest level in about 4 months
Gold prices fell to their lowest level in more than four months during trading on Monday, as strong US jobs data raised expectations that the Federal Reserve (the US Central Bank) will reduce its measures to support the economy sooner than expected.
And gold fell in the spot market 1.5 percent to $ 1736.60 an ounce by 1440 GMT.
Silver fell 7.5 percent to its lowest level in more than eight months at $22.50 an ounce, before paring its losses to 3.1 percent at $23.58.
And gold fell by more than two percent on Friday after data showed that employers hired the largest number of workers in nearly a year in July.
In terms of other precious metals, platinum rose 0.16 percent to $981.58 an ounce, after it had earlier recorded its lowest price since November 2020. Palladium fell 0.1 percent to $2624.90.
