Gold Hits Low of $1,233.79 an Ounce as Dollar Dips

Gold prices dropped on Monday as the US dollar rose 0.2 percent against a basket of currencies, Reuters reported. Investors are also cautious as they await new US economic data due out later this week.

Spot gold fell to a low of $1,233.79 an ounce early in today’s session, a one-week low for the precious metal. It crept up to $1,223.15 an ounce later, a rise of $16.07 from the previous session.

On the COMEX in New York, gold futures for December delivery lost $12.38 to $1,237.90 an ounce, The Wall Street Journal reported.