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Gold nears four-year low as dollar shines

Reuters  |  London 

Gold fell on Monday to near a recent four-year low as the dollar index rose to its highest since mid-2010 on speculation that the US Federal Reserve will act before other major central banks to tighten monetary policy. Silver prices also tumbled, with the metal touching its lowest since March 2010 at $15.72 an ounce and its cheapest level compared to gold in more than five years. Spot gold was down 0.3 per cent at $1,170.44 an ounce at 1252 GMT, having earlier fallen as low as $1,161.70. US gold futures for December delivery were down $1.20 an ounce at $1,170.40. On Friday strength ...

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First Published: Mon, November 03 2014. 22:32 IST