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The price of gold fell more than $ 97 during the settlement of the first trade of the week, due to the strength of the US dollar and the sharp rise in global stock markets thanks to positive news regarding a possible Corona vaccine.
The yellow metal has suffered the largest daily losses in value and percentage since 2013, due to increased investor risk appetite, amid preliminary results indicating the effectiveness of a possible vaccine against the outbreak which has affected economic activity.
U.S. stock indices hit record highs at the start of trading today, with gains of over 1,500 points in the Dow Jones Index, before retreating slightly in trading after that peak.
Upon settlement, the price of gold futures for December delivery fell 5%, or $ 97.3, to $ 1,854.40 an ounce.
The dollar index, which measures the performance of the greenback against a basket of six currencies, rose more than 0.7% to 92.911 points.
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