Gold hits fresh monthly low below $1,290

FXStreet (Córdoba) - Spot gold extended the decline that started March 17 and bottomed during the American session at $1,282.30, reaching the lowest price since February 11. Price of XAU/USD remains under pressure headed toward the first monthly decline of the current year.

During March price peaked at $1,391 but the reversed sharply falling more than a $100 in two weeks.

Ahead of the final hour of trading in Wall Street gold trades at $1,284, posting a daily loss of $10. Monday has been the second day in a row that the value of the ounce trades all day under $1,300.