Gold Falls to Its Lowest Level in More Than 4 Months Due to Fears of Reducing Stimulus

Gold fell to its lowest level in more than four months on Monday, as strong US jobs data fueled fears of an earlier-than-expected interest rate hike, increasing the opportunity cost of holding the non-yielding yellow metal.

And gold fell in the spot market 1.1% to 1744.50 dollars an ounce.

In early trading in Asia, prices fell 4.4% to $ 1684.37, the lowest level since March 31, as a result of sales to stop losses.

Trading was thin due to the holidays in Tokyo and Singapore.

And gold futures in the United States fell 1.1% to 1744.50 dollars.