Gold falls as dollar firms, N.Korea worries ease

Reuters/Nithin ThomasPrasad/09-25-17

Gold prices dropped on Monday and hovered around one-month lows hit last week, as the U.S. dollar firmed and concerns over the Korean peninsula eased.

…”(Angela) Merkel’s win in the German federal elections and a quiet news weekend on the North Korean front, saw the U.S. dollar opening stronger and gold’s weekend safe-haven premium eroded from Friday,” said Jeffrey Halley, a senior market analyst with OANDA.

…”I guess markets are relieved about the ongoing sanctions against North Korea. If you see what China and (U.S. President Donald) Trump have done last week, it seems they are trying to achieve a peaceful resolution,” said OCBC analyst Barnabas Gan.

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