Gold futures ended with a loss on Monday, with strength in the dollar putting pressure on the dollar-denominated precious metal.
The greenback found support as the British pound touched a 20-month low after a highly anticipated vote on U.K.'s exit from the European Union was postponed. February gold fell $3.20, or 0.3%, to settle at $1,249.40 an ounce. Prices had finished Friday at their highest since July.
Source : Marketwatch
Gold prices gave up an earlier climb to finish a bit lower on Tuesday, weighed down by a second straight session of gains for the U.S. dollar.
Expectations for a slowdown in the pace of future rate increases by the U.S. Federal Reserve, however, helped cap losses for the metal.
Gold for February delivery on Comex fell by $2.20, or 0.2%, to settle at $1,247.20 an ounce, down from an earlier high above $1,255. March silver rose 2.3 cents, or 0.2%, to $14.628 an ounce, recouping some of its...
Wall Street and Main Street both look for gold to build on last week's move higher during the this week, based on the Kitco News gold survey.
Observers suggested Friday's softer-than-forecast report on U.S. nonfarm payrolls will continue to offer support to the precious metal. The Labor Department reported that 155,000 new nonfarm jobs were created last month, when expectations had been for around 190,000 to 200,000. Still, the jobless rate remained at a 49-year low of 3.7%.
Gold futures were little changed Monday, trading near a five-month high after posting a strong rally last week when stock-market turmoil fueled haven-related buying.
Gold for February delivery on Comex was flat at $1,252.60 an ounce, while March silver SIH9, -0.69% fell 0.4% to $14.634 an ounce.
In other metals trade, January platinum was off 0.2% at $788.70 an ounce, while March palladium rose 0.3% to $1,174.20 an ounce.
March copper declined 2.2 cents, or 0.8%, to $2.7375 a...
Gold traded at the highest level in five months amid a retreatin Asian equities and U.S. stock futures on the potential escalation of tensions between Washington and Beijing.
Haven assets are rising after China's vice foreign minister summoned the U.S. ambassador Terry Branstad in protest over the arrest of Huawei Technologies Co.'s chief financial officer, and amid concerns over China's slowing economy.
Traders are also assessing if the Federal Reserve will pursue a...