Gold Prices Slide 2.1% Biggest Drop Since January

Gold prices slumped Monday, following a run-up on Friday, as the U.S. dollar gained strength. Gold for June delivery fell $27.40, or 2.1%, to settle at $1,266.60 an ounce. On Friday, gold rose 1.7% to finish at $1,294 an ounce. Silver for July delivery shed 43.8 cents, or 2.5%, to settle at $17.09 an ounce. On Monday, the U.S. dollar was trading 0.3% higher against a basket of major currencies.