Gold futures fell sharply on Tuesday, but scored a gain for month against a backdrop of ongoing worries about the spread of the coronavirus and overall losses in the stock market.
June gold fell $46.60, or 2.8%, to settle at $1,596.60 an ounce. The contract, which is now the most active, was up 1.6% from its finish at $1,571.80 on Feb. 28, according to FactSet data.
Source : Marketwatch
Gold futures fell Monday for a second session, pressured as U.S. benchmark stock indexes climbed and the dollar strengthened.
"Gold has been the answer to needed cash for the most part," said George Gero, managing director at RBC Wealth Management, following the record coronavirus-led retreat in the stock market.
June gold fell $10.90, or 0.7%, to settle at $1,643.20 an ounce. The contract, which is now the most active, posted a loss of 0.4% on Friday.
Source : Marketwatch
Gold futures head lower Tuesday morning, putting the precious metal on track for a second drop in a row as government bond yields and the US. dollar rose, pressuring precious metals that have mostly gained in the month and quarter against the backdrop of the COVID-19 pandemic.
June gold on Comex was off $21.50, or 1.3%, at $1,621.87 an ounce, after falling 0.7% on Monday. For the month, gold has advanced 3.5% thus far, and is on pace for a return for the first quarter, which ends on Tuesday,...
Oil futures fell on Monday, settling above the key $20 mark, but concerns over a drop in energy demand pushed prices to their lowest finish since 2002.
"Oil likely has little hope of rallying without some major production cut amongst producers, as global oil demand plunges under pressure from billions of people globally staying home to prevent the spread" of COVID-19, said Patrick De Haan, head of petroleum analysis at GasBuddy, in a statement Monday.
May West Texas Intermediate oil fell...
Gold held the biggest decline in more than two weeks amid signs China™s economy may be improving, although the coronavirus pandemic remains a threat to global growth.
Spot gold +0.2% to $1,580.84/oz at 9:16am in Singapore. Price -2.8% Tuesday, the biggest drop since March 13, paring the quarterly gain to 4%. Bloomberg Dollar Spot Index steady
Other precious metals: Silver +0.3% to $14.0110/oz after -22% in the first quarter, Platinum steady at $723.25/oz; -25%...