Gold Falls to $1,197.60 per Ounce

Dec. 02, 2014 09:55AM PST

Gold fell 1 percent to $1,197.60 per ounce today as the dollar strengthened and investors saw signs of a growing U.S. economy, according to Reuters.

Gold fell one percent to $1,197.60 per ounce today as the dollar strengthened and investors saw signs of a growing U.S. economy, according to Reuters. This drop comes after Monday’s4 percent rise, the largest since September 2013.

“There is extremely choppy trading going into the year-end … concerns over the impact of lower prices on inflation and what lower inflation does to a central bank’s policy are driving factors,” Bank of America Merrill Lynch analyst Michael Widmer told Reuters.

U.S. gold futures lost 1.7 percent to trade at $1,197.60 per ounce.

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