Gold prices drifted lower on Monday, extending previous session’s weakness, as the U.S. dollar gained significant ground against most major currencies.
Worries about U.S.-China trade war tensions, Brexit, Italian budget and the ongoing U.S.-Saudi Arabia spat limited gold’s downside.
The dollar index rose by 0.33%, to 95.76 around noon.
Gold futures for December ended down $4.10, or 0.3%, at $1,224.60 an ounce.
On Friday, gold futures ended down $1.00, or 0.1%, at $1,229.10 an ounce, as equities rebounded, riding on some upbeat earnings reports.
Silver futures for December settled at $14.587 an ounce, losing $0.063 for the session.
Copper futures for December ended up $0.0075, at $2.7855 per pound.
With another interest rate hike in the U.S. this year almost certain, and more increases likely in the coming year, the dollar index has been holding its gains against most major currencies.