U.S. dollar boosted by strong U.S. data
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Gold fell to its lowest level in nearly a week on Monday as U.S. economic data pushed up the dollar, weakening its appeal.
Spot gold fell 0.3% to $1,313.40 an ounce at 1900 GMT, and earlier fell to its lowest level since January 29 at $1,308.20.
U.S. futures fell 0.2% to $1,319.3 an ounce. "U.S. securities and bond yields are much higher than in other parts of the world, and global investment is flowing to the United States," said George Gero, managing director of wealth management at Royal Bank of Canada.
The dollar strengthened across the board against a basket of other currencies as investors were encouraged by Friday's strong U.S. employment data and global stock markets held near two-month highs.
Palladium rose 1.1% to $1,365.00 an ounce.
Silver fell 0.4% to $15.85 an ounce. Platinum fell 0.8% to $815.00 an ounce.
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