Gold falls to its lowest level in four months

Gold prices fell today to their lowest level in more than four months, with the US dollar rising to its highest level in two weeks after strong US jobs data and the expectation of reducing economic support from the Federal Reserve. Spot gold fell 2.1% to $1,725.96 an ounce and US gold futures fell 2.1% to $1,726.50 an ounce, and gold prices were down 4.4% to fall below $1,700 in early Asian trading.

As for other precious metals, silver fell 4% to $23.35, and platinum fell 0.4% to $976.13 after falling earlier in the session to its lowest level since November, and palladium fell 0.9% to $2,602.66.