World Economy

Gold Slides

Gold SlidesGold Slides

Gold fell to its lowest in over three months early on Monday as the dollar hit a one-month high against the yen after US Federal Reserve chief Janet Yellen said the central bank could raise interest rates in the coming months, Reuters reported. Spot gold had dropped 0.5% to $1,205.70 per ounce. Bullion touched a low of $1205.50 earlier in the session, its lowest since Feb. 22. US gold was down 0.7% at $1,205.50. Gold output in Australia, the world’s second biggest producer, slipped 2% in the first quarter, a survey released on Sunday showed.