The gold prices They fell for the fourth consecutive session on Monday, weighed down by a stronger dollar after good jobs data from the United States cemented bets that the Federal Reserve would maintain its aggressive path of rate hikes.
Spot gold fell 0.8% to $1,680.60 an ounce by 08:57 GMT, after hitting a low not seen since Oct. 3. US gold futures fell 1.2% to $1,688.30.
The dollar index hit a high in more than a week, making gold more expensive for buyers holding other currencies.
Data on Friday showed that US employers hired more workers than expected in September, while the unemployment rate fell to 3.5%, providing ammunition for the Fed to offer another sharp rate hike at its next policy meeting.
Federal Reserve funds futures forecast a 90% chance of a 75 basis point hike.
Attention now turns to US inflation data due out this week. Consumer price inflation is expected to ease slightly to 8.1% annually, but the core measure is expected to accelerate to 6.5% from 6.3%.
Higher interest rates increase the opportunity cost of holding bullion, which does not earn interest.
Among other precious metals, silver was down 2.3% at $19.65 an ounce after hitting a one-week low, platinum was down 1.5% at $898.58, while palladium was up 0.1%. at $2,183.99.
With information from Reuters
Source: Elcomercio
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