Gold Hits over 4-Week Low as Dollar Edges Higher

Singapore, February 06 (QNA) – Gold prices hit a more than four-week low on Monday, as the U.S. dollar firmed after stronger-than-expected jobs data fanned concerns that the Federal Reserve might keep hiking interest rates.

Spot gold was little changed at $1,865.88 per ounce, after hitting its lowest level since Jan. 6 earlier in the session.

U.S. gold futures rose 0.2% to $1,879.40. The dollar index was 0.2% higher, making gold less attractive for buyers holding other currencies.

Spot silver lost 0.5% to $22.24 per ounce, platinum eased 0.1% to $973.04 and palladium slipped 0.5% to $1,616.54. (QNA)