Gold fell 1 percent to close to $ 1900 an ounce thanks to better-than-expected US jobs data, while the metal’s attractiveness has diminished further due to the rise of the dollar and doubts about the chances of adopting an American economic stimulus package before the presidential elections.
The spot price of gold was down 1.2 percent to $ 1,901.16 an ounce, while US gold futures fell 1.4 percent to $ 1,902.80.
Meanwhile, the dollar index rebounded from its lowest level in seven weeks against major currencies, raising the cost of gold for other currencies’ holders.
In other precious metals, silver fell 2.1 percent to $ 24.55 an ounce, platinum fell 0.7 percent to $ 880.09, and palladium fell 1.4 percent to $ 2371.84 an ounce.
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