Gold at $1275 on Stronger U.S. Dollar

Gold settled near its lowest in two months on Monday, pressured by a stronger U.S. dollar and a rally in global financial markets.  U.S. gold futures ended $1.30 lower at $1,278.90 an ounce.

Spot gold was down 0.2 percent at $1,278 an ounce. The metal last week posted a weekly loss of 1.8 percent, its biggest such fall in a month, after it set a two-month low at $1,273.06 on Thursday, hurt by strong U.S. economic data and speculation of an early interest rate increase.

The U.S. benchmark S&P breached the 2,000 mark for the first time as expectations that the European Central Bank would move to boost economic growth sent global financial markets shooting higher.


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