Gold Prices Sink 1% at Low, Heading for Sharpest Weekly Skid In Nearly a Year
Friday, 11 October 2019 20:38 WIB | PRECIOUS METALS |EMASGOLD

Gold futures on Friday headed sharply lower, putting bullion on track to record its steepest daily drop in October, dragging the commodity to its sharpest weekly fall in more than a year, amid growing optimism on Sino-American trade talks and progress on Brexit.

December gold on Comex was down $17, or 1.1%, to trade at $1,484.30 an ounce, falling further below the psychologically significant level at $1,500. Bullion™s decline, if it holds, would push the metal to its weakest level since Oct. 1 and produce its sharpest daily slump since Sept. 30, according to FactSet data.

For the week, gold is on track to lose 1.9%, which would represent the firmest weekly decline for the most-active contract since a 2% decline in the week ended Nov. 9, 2018.

Meanwhile, December silver lost 14 cents, or 0.8%, to trade at $17.465 an ounce, putting gold™s sister metal on pace for a weekly decline of 0.1%.

Source : Market Watch

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