Gold price continues to remain on the lower threshold after hitting its lowest level since July 1. Spot gold fell 3 per cent to $3,998.52 an ounce while spot silver fell 3.8 per cent to $57.56 an ounce.
Gold prices fell 3 per cent on Monday after U.S. President Donald Trump said he was reinstating a naval blockade on Iran, boosting oil markets, reigniting inflation concerns and raising prospects of higher-for-longer U.S. interest rates. Spot gold fell for the second straight session, down 3 per cent at $3,996.76 per ounce.
