Mubasher: Gold prices dropped 1.6%, as the US dollar rose supported by the uncertainty regarding negotiations for forming a new government in Germany.
The price of gold futures for December delivery lost more than $21.2 and reached $1,275.3 per ounce.
Today, German Chancellor Angela Merkel announced that efforts to form a new coalition government, saying that she prefers re-election than forming a minority government.
Source:
Mubasher