Gold falls 2 per cent as dollar, equities strengthen

Gold prices slipped as much as 2 per cent on Monday as the dollar strengthened and investor appetite for risk increased, but the metal remained above $1,200 an ounce after a rally that pushed prices to one-year highs this month.

Spot gold was down 1.6 per cent at $1,208.60 an ounce by 1:58 p.m. EDT (1858 GMT), off a session low of $1,201.63.

US gold futures for April delivery settled down 1.7 per cent to $1,210.10.

Silver fell 1.2 per cent to $15.15 an ounce, while spot platinum fell 1.5 per cent to $925.67 and palladium slipped by 0.4 per cent to $497.80.

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Posted in: Indian Market Tips