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Gold hits "worst monthly performance"
14:57 - 29/09/2017
Information / follow-up ...
Gold prices remained flat on Friday amid pressure from the dollar, but it is heading for its biggest monthly loss since the beginning of the year, as US interest rates rise in December.
There was little change in spot gold at 7:20 GMT to settle at $ 1286.96 an ounce, heading for a 2.5 percent fall in September, the biggest monthly decline since the beginning of 2017, the largest since November 2016.
But the metal is heading towards ending the quarter, up about 3.7 percent, after gold futures in the US futures contract rose 0.1 percent to $ 1289.70 an ounce.
The dollar index, which tracks the performance of the greenback against major currencies, has been on track for its biggest weekly gain since the start of the year as investors assess the US President's tax plan and the policy outlook of the US central bank.
Gold is heavily affected by higher interest rates, which increases the cost of alternative opportunities to metal holders, which does not generate a return while the dollar strengthens.
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