Precious metal prices drop as dollar recovers

The price of an ounce of gold fell almost 2 percent on Monday as the United States dollar recovered. In addition, a general selloff seemed to have been triggered by concerns regarding the coronavirus pandemic.

Gold traded 2.13 percent in the red, selling for 1,909.46 dollars. Against the euro, the price surrendered 1.31 percent to 1,625.86 euros.Other precious metals were down as well, with silver dropping 4.67 percent to 25.55 dollars per oz. Platinum lost 3.47 percent to go for 899.02 dollars per oz at the same time, while an ounce of palladium sold for 2,316.28 dollars per oz, down 1.91 percent.