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Gold loses $ 7 to record first drop in 4 sessions



DirectGold prices extended losses of more than $ 7 at the close of Monday's trading session, the yellow metal to record the first decline in 4 sessions following the announcement of economic data and record US share gains.

Prices of precious metals were negatively impacted by the shares of Standard & Poor's and NASDAQ in the US, as well as good economic data in the US and China.

Economic data showed today that US personal spending rose sharply last month, while core inflation slowed over the same period.

China's industrial profits rose 13 percent in March on a year-on-year basis, a sign of improved performance in the world's second-largest economy.

Investors are also looking forward to Fed meetings as of tomorrow, amid expectations of a rate hike.

Under the deal, the price of gold futures for June delivery fell 0.6% or $ 7.30 to $ 1,181.50 an ounce.

The spot price of yellow metal fell 0.5 percent to $ 1,279.4 an ounce at 1740 GMT.

During this period, the main index of the dollar, which measures the performance of the currency in relation to the 6 major currencies, fell 0.1% to 97,889.


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