Gold prices dropped Monday to settle at their lowest level in just over a week, after ending last Friday at their highest since early September. Investment demand for the precious metal dulled as tensions between the U.S. and North Korea and concerns surrounding Hurricane Irma eased back. Strength in the dollar and U.S. equities also pressured prices for the metal. December gold fell $15.50, or 1.2%, to settle at $1,335.70 an ounce. That was the lowest finish since Sept. 1. The decline followed Friday’s settlement at $1.351.20, which was the highest for a most-active contract since Sept. 6, according to FactSet data.
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