Gold drops after two-week peak

Gold prices declined today, Monday, from their highest levels in two weeks, influenced by the rise in the US dollar, which increased the cost of the metal for buyers outside the United States, and by the slowdown in the US labor market growth, which eased expectations of interest rate hikes by the Federal Reserve. The spot price of gold fell by 0.8% to approximately $4,143 per ounce, while August delivery gold futures rose by 0.7% to around $4,155. Markets indicate a decreased likelihood of a rate hike, with investors awaiting the Federal Reserve's upcoming meeting minutes for clues about future monetary policy.

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