Dollar recovery pushing gold down 1 percent from year-on-year high
22:50 - 11/09/2017
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LONDON (Reuters) - Gold prices fell more than 1 percent from a 13-month high in the previous session as the dollar and US bond and equities recovered amid relief after North Korea refrained from testing for a long-range missile over the weekend.
Demand for safer assets, including the yellow metal, also fell after hurricane Erma caused less-than-expected damage in Florida.
Spot gold fell 1.45 percent to $ 1,426.81 an ounce late in the New York session, its biggest one-day loss since July 3.
The precious metal jumped on Friday to $ 1357.54 an ounce, its highest since August last year.
Gold in December delivery contracts fell 1.2 percent to settle at $ 1335.70 an ounce.
The dollar rallied after suffering a risk aversion, rising from a two-and-a-half-year low in the past week after North Korea held a party at the weekend instead of firing another.
Among other precious metals, spot silver fell 1.14 percent to $ 17.72 an ounce after hitting a five-month high of $ 18.21 in the previous session.
Platinum fell 1.77 percent to $ 987.00 an ounce, while palladium dropped 0.24 percent to $ 932.25 an ounce.