Gold, silver struggle near 4-year lows

Spot gold dropped 1% on Monday before recovering slightly to trade down 0.6% at US$1,166.95 an ounce by 0300 GMT, and with chartists are now eyeing prices below US$1,000 for the first time in five years.

SINGAPORE: Gold and silver extended their losing streak to a fourth session on Monday to trade near their lowest in more than four years, with a stronger US dollar and possible technical selling likely to keep them under pressure.

Precious metals took a beating on Friday after the Bank of Japan's surprise decision to boost its already huge bond-buying stimulus prompted the yen to fall to a seven-year low against the dollar.