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Gold declines on stronger U.S. dollar in thin trading
Gold prices fell in low market liquidity on Monday as key markets in the U.S. and Asia were shut for holidays, while a firm dollar put pressure on bullion. Spot gold fell 0.9 per cent to US$4,997.77 per ounce by 1318 GMT, after losing more than one per cent earlier in the session. U.S. gold futures GCcv1 for April delivery lost 0.6 per cent to $5,018.70 per ounce. “Gold is range-trading around $5,000/oz in a week with lower liquidity due to holidays,” said UBS analyst Giovanni Staunovo. U.S. markets were closed for Presidents Day, while markets in China and several other countries in Asia were closed for the ... (full story)
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