Gold gives up record high as dollar strengthens

Economies.com
2023-12-04 17:26PM UTC

Gold prices fell on Monday as the dollar index rose against most major rivals, moving away from record highs scaled earlier in the session. 

 

Later this week, the all-important US payrolls report will be released later this week. 

 

Fed Chair Jerome Powell said last week that inflation hasn't be fully controlled yet and talk about interest rate cuts are too early. 

 

Otherwise, the dollar index fell 0.4% to 103.6 as of 17:23 GMT, with a session-high at 103.8, and a low at 103.06. 

 

On trading, gold spot prices fell 2% as of 17:14 GMT, or $41.4, to $2,048 an ounce away from a record high at $2152.30 an ounce. 

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