Gold Declines After Biggest Monthly Advance in 3 Years

London (Feb 2)  Gold today declined, after the biggest monthly advance in three years, amid prospects for higher US interest rates.

Gold dropped 0.7 per cent to USD 1,275.04 an ounce. It advanced 8.4 per cent in January.

Silver also fell 1.2 per cent to USD 17.04 an ounce. Prices climbed 9.8 per cent in January, the biggest monthly gain since June.

Higher borrowing costs amid a strengthening economy curbs gold's appeal because the metal generally gives investors returns only through price gains.

Source: NewIndiaExpress