| The gold price was stuck under psychologically important $1,100 per ounce level on Monday as a stronger dollar and expectations of an interest rate hike in the US weighed on prices. Spot gold was last at $1,092.50 per ounce, a $3.1 increase on the previous day’s close. On Friday the metal dropped to its lowest in three months. At its intraday low of $1,085.40, it was at its cheapest since August 7; its five-year low of $1,077.50 is now in focus.
Dollar strength has weighed heavily, as the currency jumped to a seven month high on Friday as US non-farm payroll data beat expectations and increased the likelihood of interest rates being raised by the end of the year. It was last at 1.0771 against the euro..............................................Full Article: Source
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