Gold Falls With The Rise of The Dollar And Attention Turns to US Inflation Data

Gold fell today with the dollar slightly higher, as investors’ focus shifted to US inflation data due this week, which may give some indication of the extent to which the Federal Reserve will continue to refrain from reducing monetary support.

The dollar rose 0.1%, making gold more expensive for holders of other currencies.

After the opening of European shares, the spot price of gold fell 0.3% to 1883.50 dollars an ounce. US gold futures fell 0.3% to $1,885.40.

Prices rose more than 1% during the previous session after weaker-than-expected monthly US jobs data calmed investor fears that the board would ease monetary stimulus soon.

Silver fell 0.9 percent to $27.53 an ounce, palladium fell 0.2% to $2840.05, and platinum fell 0.2% to $1,159.60.