Gold set for worst monthly fall in 4 years as dollar strengthens

Gold in the international market declined on Wednesday and was on track for the biggest monthly fall in nearly four years, as the dollar benefited from caution that crept into the financial markets after the first US presidential debate.

Spot gold dropped 0.67 per cent to $1,885.4 an ounce (until 7.35 pm IST), declining 4.3 per cent in September. This set gold up for its worst monthly performance since November 2016.  Silver, too, slipped 1.69 per cent to $23.87 an ounce and was on track for its first monthly contraction since March, falling more than 16%.

In Mumbai, standard gold