The price of an ounce of gold fell on Monday below $ 1,200 for the first time since February due to the strengthening of the dollar, which rose at the prospect of a rise in interest rates in the United States.
The ounce of gold traded at 1199.80 in international markets metal, but then rallied and was trading above $ 1,212, in a less active session than usual for being a public holiday in the UK.
The downward trend of gold, which has depreciated by more than 7% in the last month and closed last Friday in London at $ 1216.25, is mainly due to the strengthening of the US currency traded -in the raw materials-, with the possibility of a rate increase in that country.
The president of the Federal Reserve, Janet Allen, said Friday that the price could climb Money view the consolidation of the economy of the world's leading power.
Gold, which rose 21% in the first quarter of 2016, has come to trade above the $ 1,270 during the month of May due to the weakness of the dollar at that time and negative interest rates applied by some central banks.