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Gold prices fell slightly on Monday due to speculation the Federal Reserve will still taper its stimulus program, despite weaker than expected US jobs data reported last week.
Gold prices fell slightly Sept. 9 due to speculation the US Federal Reserve will still taper its stimulus program, despite weaker than expected US jobs data reported last week.
Spot gold prices were at $1,388.53 an ounce, a drop of $2.78, Reuters reported. Gold futures were also down $1.30 to $1,387.80 an ounce.
The federal bond-buying program drives prices for the precious metal higher. However, fears the program will be scaled back has impacted gold throughout the year — pushing it down 17 percent so far this year.
