Gold Dips Below $1400/Ounce While Dollar Gains Momentum

Reuters reported that gold deepened Friday’s losses in London on Monday, against a strengthening dollar.

As quoted in the market report:

The figures out of the States (on Friday) were okay, and today S&P revised the U.S. sovereign credit outlook up to stable from negative, so short term gold could come off a bit and test the $1,320 area again before a rally,” Afshin Nabavi, head of trading at MKS SA said.

To view the whole Reuters report, click here.