Gold prices drop against rising USD

London (Mar 29)  Gold prices registered their biggest daily decline in five weeks.

The drop in the precious metal prices came on the back of the recovering US dollar, after the American economy exceeded GDP growth expectations in the fourth quarter of 2017.

Gold as other safe-haven investments is also affected by the cooling political risks, after reports that North Korea has agreed to give up its nuclear weapon programme.

Gold futures for April delivery settled 1.3% lower, decreasing by around $17.80, and falling to $1,342.20 per ounce.

This is the biggest daily drop for the yellow metal since 20 February.

MUbasher