WASHINGTON (dpa-AFX) - Gold prices dropped on Monday as the U.S. dollar climbed higher, reacting to recent strong economic data, including the non-farm payroll report that showed a much bigger than addition in jobs in the month of September.
Data showing much less than expected growth in China's exports and imports in September and disappointment over a much-anticipated Chinese stimulus announcement over the weekend also weighed on the yellow metal.
The dollar index climbed to 103.29, gaining about 0.4%.
Gold futures for October ended down $9.80 or about 0.37% at $2,647.80 an ounce.
Silver futures for October closed down $0.437 or about 1.39% at $31.083 an ounce, while Copper futures for October dropped to $4.3910 per pound, down $0.1025 or about 2.2%.
China's finance ministry flagged more fiscal stimulus over the weekend but left out key details on the overall size of the package.
Minister of Finance Lan Foan pledged to 'significantly increase' debt, offer subsidies to people with low incomes, support the property market and replenish state banks' capital, among other measures.
Chinese inflation and trade balance data also disappointed and raised worries about weak domestic demand.
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