World Economy

Gold Slips

Gold SlipsGold Slips

Gold prices fell on Monday as the dollar held steady after data showed the US economy added a larger-than-expected number of jobs in February. Spot gold was down 0.1% at $1,322.15 per ounce at 0123 GMT. Prices touched their lowest since March 1 at $1,312.99 in the previous session,Reuters reported. US gold futures for April delivery fell 0.1% to $1,322.10 per ounce. The dollar index, against a basket of currencies, was little changed at 90.131. The recent volatility in global financial markets should not deter top central banks from lifting interest rates or ending years of unprecedented stimulus, the Bank for International Settlements said on Sunday. Speculators raised their net long position in gold by 4,178 contracts to 161,812 contracts, Commodity Futures Trading Commission data showed. Gold miner Newcrest Mining Ltd. said on Monday its fiscal 2018 guidance would be adversely affected by the closure of its flagship mine following damages to a tailings dam wall. South African gold producers will likely reach a settlement within six weeks in a lawsuit over a fatal lung disease that companies have set aside five billion rand ($420 million) in provisions for, a lawyer and industry group said on Sunday.       

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