Gold Slips after Reduction

Gold fell yesterday as the dollar’s buoyant start to the new year kept the pressure on prices after the metal posted its biggest quarterly reduction in more than three years.

The themes of late 2016 appeared to be persisting in the wider markets in the new year, with equities bouncing while the dollar posted its biggest rise in three weeks.

Spot gold was down 0.4 per cent at 1,147.51 dollars an ounce. US. gold futures for February delivery were down 3.70 dollars an ounce at 1,148.00 dollars.

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