Gold Hits Near Two-Week Low, Reaching $4417.04 Per Ounce
Singapore: Gold extended declines on Monday, hitting its lowest in nearly two weeks after US Federal Reserve Chair Kevin Warsh signaled that interest rate hikes may be needed to contain inflation.
Spot gold fell 0.8% to $4,417.04 per ounce, hitting its lowest since August 19. Prices fell more than 3% on Friday.
US gold futures for December delivery declined 1.4% to $4,466.80. Among other metals, spot silver fell 0.4% to $66.10 per ounce, platinum declined 1.3% to $1,797.03 and palladium slipped 2.5% to $1,386.96.
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