LONDON: Gold prices were marginally lower on Monday, as the dollar gained traction against major currency rivals, on signs the Federal Reserve is preparing to tighten monetary policy for the first time in six years in 2015.

Spot gold was down 0.1 per cent at $1,205.06 an ounce by 1339 GMT, but held above a near-two-week low of $1,201.20 hit in the previous session. It posted its biggest weekly drop in a month last week, down 1.4pc. Silver was down 0.3pc at $17.07 an ounce, after falling 2.2pc last week.

Published in Dawn, May 26th, 2015

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