World gold drops to lowest level in more than 1 week

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Gold prices fell to their lowest level in more than a week on Monday (November 21), down more than 1% as the dollar extended its rally, while market attention turned to minutes of the November meeting of the U.S. dollar. The US Federal Reserve (Fed) due to this week’s trading is shortened because of the Thanksgiving holiday.

Closing the session on Monday, the spot gold contract fell 0.7 percent to $1,738.40 an ounce, after touching its lowest since November 10, 2022 at $1,731.40. Gold futures lost 0.8% to $1,739.6 an ounce.

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