Dubai-Mubasher: Gold prices declined on Monday as China decreased its reserves of the precious metal which plunged over the last period.
China's reserves of gold dropped to $59.52 billion, compared with $63.26 billion previously, according to the statement of People's Bank of China.
The decline was also attributed to the rise of dollar against a basket of currencies by 0.51% to $98.76.
Gold fell by 0.14% or $1.5 to reach $1082.70 per ounce.
