NEW YORK: Gold prices hit their lowest in more than four months, dropping as much as 4.4% at one point yesterday, as the US dollar strengthened after strong US labour data bolstered expectations for early tapering of economic stimulus.

       Spot gold fell 1.1% to US$1,743.16 (RM7,363.11) per ounce. Prices slumped below US$1,700 (RM7180.80) in early Asia trade but pared some of those losses.

       Silver too was caught in gold’s slipstream to slide 7.5% to its lowest in more than eight-months of US$22.50 (RM95.04) per ounce. It was last down 1.9% at US$23.87 (RM100.83). — Reuters