Gold falls to four-week low as dollar gains strength

Gold prices dropped for the fourth straight session on Monday as a stronger US dollar and fading hopes of Federal Reserve rate cuts pressured the metal to a four-week low. Spot gold slid 1.5% to $4,019 per ounce on November 17, retreating sharply from its October record of $4,381. Meanwhile, US gold futures for December delivery closed 0.5% lower at $4,074.50. Overall, gold has fallen more than 4.5% from last week’s high of $4,245, signalling a clear shift in market sentiment.Read more…