Gold Drops to Near $1230 on Stronger Equities

Gold fell for a fourth straight session on Monday, edging closer to the key $1,200-an-ounce level as strong global economic data and higher equities curb its safe-haven appeal.

Spot gold had eased 0.2 percent to $1,228.61 an ounce by 0032 GMT, after posting a weekly loss on Friday. Gold isn’t too far from a one-week low of $1,226.17 reached last week.

The metal’s losses come as global equities posted their biggest weekly percentage gain since July 2013 last week, while the U.S. dollar also strengthened.

CNBC

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