Tuesday, 31 July 2018 19:15 WIB | PRECIOUS METALS |GOLDEmas berjangka
Gold futures retreated Tuesday, putting the precious commodity on track to book its longest string of losses since late June, underscoring a bearish tilt for gold prices in recent trade.
The moves for bullion come ahead of a series of central-bank meetings, including the Federal Reserve, that could influence the near-term outlook for the asset.
December gold edged down $2.90, or 0.2%, at $1,218.40 an ounce, after slipping on Monday. Prices for the yellow metal, if they end lower Tuesday, will have fallen for four consecutive sessions, marking the longest skid for a most-active contract since a similarly lengthy slide ended June 28, according to FactSet data. A fifth consecutive decline would represent the longest uninterrupted retreat for gold in more than year.
Gold has mostly been swayed by a stronger dollar, but as the buck™s ascent has paused recently, the metal has struggled to find catalysts to lift it higher. The ICE U.S. Dollar Index a measure of the dollar against six rival currencies, was down 0.1% at 94.22 in early trade Tuesday, but has climbed 2.3% over the past seven months, while gold has declined by nearly 7% over the same period.
Meanwhile, September silver was trading 3 cents, or 0.1%, lower at $15.510.
Popular funds that track gold and sliver, the SPDR Gold Shares lost 0.2% on Monday, while the iShares Silver Trust edged 0.1% higher.
Source : Marketwatch