Market News
Gold drops as strong dollar sours four-session rally; Fed in focus - REUTERS
- Dollar up 0.7%, set for it best day in nearly 4 weeks
- Expect choppy, consolidative gold market into year-end - analyst
- Most brokerages see 25-bps rate cut in December
- US ADP employment report, non-farm payrolls due this week
Dec 2 (Reuters) - Gold prices slipped on Monday, snapping a four-day winning streak, as the U.S. dollar staged a sharp rally and investors braced for pivotal economic data and Federal Reserve insights on the path of interest rates.
Spot gold was down 0.6% at $2,636.54 per ounce as of 01:41 p.m. ET (1841 GMT), having fallen as much as 1% earlier in the day. U.S. gold futures settled 0.8% lower at $2,658.50.
