Commodity

GOLD: Analysis & Weekly Outlook | Forecast|

WEEKLY REPORT

Gold extended losses on Monday for the sixth consecutive session to hit a near seven-month low, as the dollar stayed strong, with traders digesting a key U.S. inflation report as they positioned for a slew of job market data due this week. Spot gold dropped 0.4% to $1,840.49 per ounce by 0545 GMT, its lowest since March 10. U.S. gold futures shed 0.5% to $1,856.20. Last week, bullion posted its biggest weekly decline since June 2021 to end the third quarter 3.7% lower.

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