London — Gold fell on Monday, snapping three days of gains as the dollar index rose back towards its 2018 peak, with the previous session’s soft US jobs data doing little to dampen optimism over the world’s largest economy. That left traders betting that the Federal Reserve would press ahead with lifting US interest rates this year, potentially cooling interest in gold because it increases the opportunity cost of holding non-yielding assets such as bullion. Spot gold was down 0.1% at $1,313.03/oz by 9.30am GMT, having touched its highest since April 30 at $1,318.85. US gold futures for June delivery eased by 0.1% to $1,314. The market was thinned by a national holiday in the UK, which closed trading desks in London. The dollar index rose back towards Friday’s peak for the year on Monday after US jobs and wages data did little to alter perceptions of strength in the US economy and consequently expectations for more Fed rate increases. Meanwhile, a surprise drop in German industrial o...
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