Gold Falls to Over 10 Month Low
Gold prices dropped
New York - QNA
Gold prices dropped to their lowest in over 10 months on Thursday, with the dollar surging after the United States raised interest rates for the first time in a year and signalled further hikes for 2017.
Spot gold had edged down 0.2% to $1,143.70, after earlier touching its weakest level since Feb. 3 at 1,134.71.
US gold futures declined 1.7% to $1,143.70 per ounce. They earlier marked their lowest since Feb. 1 at $1,136.40 an ounce.
The dollar hovered near a 14-year peak against a basket of major currencies on Thursday.
Source: QNA
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