Gold Ends at 1-Week Low on Dollar Strength, U.S. Stock Market Gains
Tuesday, 30 October 2018 03:12 WIB |
PRECIOUS METALS |GOLDEMAS
Gold prices logged the lowest finish in a week Monday, as strength in the dollar and gains in the U.S. stock market dulled bullion demand.
The yellow metal has now fallen by more than $9 an ounce from the more than three-month high it settled at on Tuesday, when equities investors sought gold™s relative safety.
December gold fell $8.20, or 0.7%, to settle at $1,227.60 an ounce”the lowest finish for a most-active contract since Oct. 22, FactSet data show. With a mild gain Friday, the contract tacked on 0.6% for last week”its fourth weekly rise in a row.
For October, gold was so far up 2.7% on the heels of six consecutive monthly declines.
Source : Marketwatch