Gold Drops to Below $1210 on U.S. Dollar

Gold was stuck near its lowest since January on Monday on fears that a stronger dollar and an earlier-than-expected hike in U.S. interest rates would dim the metal’s appeal.

With the dollar index logging its tenth straight weekly gain last week, other precious metals were also weak. Silver was trading close to a four-year low, while platinum fell to its lowest since December.

Spot gold ticked up to $1,217.60 an ounce by 0032 GMT, but kept close to Friday’s 1,213.61 – its lowest since early January.  Silver was flat and held close to a four-year low of $17.71 reached in the previous session.

CNBC

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