NEW YORK: Gold prices hit their lowest in more than four months, dropping as much as 4.4% at one point yesterday, as the US dollar strengthened after strong US labour data bolstered expectations for early tapering of economic stimulus.
Spot gold fell 1.1% to US$1,743.16 (RM7,363.11) per ounce. Prices slumped below US$1,700 (RM7180.80) in early Asia trade but pared some of those losses.
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