Last week, spot gold prices declined by 4.5 percent to close at $1256.50 per ounce as prices fell for the eighth straight session, slipping to a four-month low, pressured by a stronger dollar after U.S. weekly jobless claims fell and ahead of key non-farm payrolls data that could put the Federal Reserve on track to raise interest rates this year.
Stronger-than-expected U.S. manufacturing data and investors awaited jobs data later this week for clues about whether U.S. interest rates would rise by the year-end. The U.S. dollar rose to the highest in more than two months s the data reinforced the view that the Fed would raise rates at the end of the year.
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