Gold Prices Headed For Their Biggest Fall In 8 Months

In the international market, gold prices may have slipped slightly on Friday but are headed for the worst monthly performance since August 2018. Strengthening US dollar and global equities have pushed the metal for its first weekly fall in four. It has lost around 1.8 percent in March.

Spot gold fell by 0.1 percent to $1,288.74 an ounce extending its decline of 1.5 percent seen in the previous session. On a quarterly basis, however, the yellow metal is on track for its second straight rise as concerns of a global economic slowdown loom.

US gold futures declined by 0.1 percent to $1,288 an ounce. Meanwhile, the dollar was poised for its strongest monthly gain and Asian equity markets rose over reports of progress in trade talks between the US and China. Gains in the US dollars and gold move in opposite directions.

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