Mubasher: Gold prices fell on Monday after the long Christmas weekend amid a decline in China’s gold imports for the second month in a row.
China’s net purchases declined to 66.8 metric tons in November from 68.2 tons in October, according to data from the Hong Kong Census & Statistics Department.
The Asian country’s net imports of gold dropped for the second month in November as investors await new developments in the U.S. monetary policy.
Gold shipments from Switzerland to China decreased to 16.5 tons in November from 29 tons in October, according to data from the Swiss Federal Customs Administration.
Gold prices declined 0.43% to reach $1071.30 per ounce on Monday.
