Gold futures marked a third straight session decline on Wednesday, posting their lowest settlement in more than three weeks. Strength in the U.S. stock market, as well as smaller-than-expected private-sector job losses in May pressured prices for the haven metal.
August gold fell by $29.20, or 1.7%, to settle at $1,704.80 an ounce. That was the lowest finish for a most-active contract since May 11, according to FactSet data.
Gold futures rose on Thursday, with prices posting their first gain in four sessions on the back of weakness in the U.S. stock market and the dollar, as investors digested policy actions by the European Central Bank.
Gold for August delivery on Comex tacked on $22.60, or 1.3%, to settle at $1,727.40 an ounce, after trading as high as $1,729. Prices for the most-active contract tumbled 1.7% on Wednesday amid a strong rally in global equities. That decline marked a third straight loss for the...
Gold lost ground Wednesday, unable to find traction higher as demand for equities dulls haven-related demand for the precious metal.
Gold for August delivery on Comex was down $3.90, or 0.2%, at $1,730.20 an ounce. July silver was up 2 cents, or 0.1%, at $18.280 an ounce.
Stock-index futures pointed to a higher start for U.S. equities, which have pushed back to early March levels on optimism over efforts to reopen the economy. Gold has failed to find much in the way of traditional haven...
Gold dropped for a second day as traders assessed the haven™s merits amid a rally in stocks and positive signs from economies reopening, while also focusing on continued civil unrest across the U.S.
Businesses are resuming operations worldwide, while manufacturing gauges are painting a more optimistic picture. Activity in China has recovered to 80% to 85% of pre-virus levels, according to Bloomberg Economics. Still, risks to growth remain, including simmering U.S.-China relations...
Gold prices gained from last session™s fall on lingering political tensions and a weaker dollar, but were still near their lowest in over a week as equities were set to extend their gains on economic optimism.
Spot gold rose 0.4% to $1,703.67 per ounce, as of 0212 GMT. On Wednesday, it fell 1.7% to reach its lowest since May 27.
U.S. gold futures were flat at $1,704.90.
The European Central Bank is certain to give more stimulus, with the only question being timing ” whether later on...