Gold prices fell during Monday’s trading amid concerns that the upcoming trade policies of U.S. President-elect Donald Trump could undermine the Federal Reserve’s efforts to ease borrowing costs.
The December futures contracts for the yellow metal dropped by 0.60%, or $16.1, to $2678.70 per ounce as of 10:29 AM Mecca time.
The spot price of gold declined by 0.49%, or $13.06, to $2671.71 per ounce, while December silver contracts fell by 0.17% to $31.395. Meanwhile, the spot price of platinum rose by 1% to $982.49 per ounce.