Gold fell to a near two-month low on Monday as the dollar continued to rally following Donald Trump's win in the U.S. presidential election.
Gold for December delivery was last seen down US$74.90 to US$2,619.00 per ounce, the lowest since Sept.19.
The drop comes as the dollar rose to the highest since July, with the ICE dollar index last seen up 0.58 points to 105.58. The currency's rally began after Trump defeated Vice-President Kamala Harris in the Nov. 5 election and comes despite a second cut to U.S. interest rates on Thursday by the Federal Reserve.
"An eventful week that saw precious and industrial metals trade lower due to a stronger USD and higher yields," Saxo Bank noted.
Treasury markets were closed on Monday due to the Veterans Day holiday.
Source : MT Newswires
