Gold falls as dollar rises

2021-12-06 11:49:37 GMT (

Gold prices fell on Monday, resuming losses after the recovery attempts from a 4-week low halted, weighed down by the US dollar's rise against its peers.


Gold prices fell 0.4% to $1,777.75, after opening at $1,784.62, and hit a day high at $1,787.70.


Gold closed higher by 0.8% on Friday, within recovery attempts from a 4-week low of $1,761.78 hit on Thursday.


Gold prices rose on Friday after disappointing US jobs data for November.


Gold prices lost 0.3% last week, the third straight weekly loss, due to weak demand as a safe haven.


The dollar index rose 0.2% on Monday for the fourth straight session against a basket of major rivals.


The gains come after several Federal Reserve officials' statements boosted the chances of accelerating the US monetary policy tightening.


Gold stocks at the SPDR ETF fell 1.79 metric tonnes yesterday, with the total at the lowest level since last November 17 of 984.38 metric tonnes.

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