The price of gold fell after the largest decline in a month, as investors sought to buy the US dollar, amid increasing signs of an economic slowdown. Accordingly, bullion prices took a downward movement, and the XAU/USD gold price reached the support level of 1772 dollars an ounce before settling around the 1777 dollars an ounce before important data and events affecting the market direction and investor sentiment.

Gold is now being sold after rising for four weeks, as the US currency renewed its rise. The latest US data showed a rapid decline in manufacturing and lower homebuilders’ morale, adding to concerns about risks to global growth after the weak numbers from China.