Gold Moves Sharply Lower After Seeing Early | Commodities
(RTTNews) – After seeing some power early within the session, the price of gold moved sharply decrease over the course of the trading day on Monday, extending the substantial pullback seen over the 2 earlier periods.
Gold for April supply plunged $60.70 or 2.0 p.c to $2,951.30 an ounce and has now plummeted $188.60 or 6.0 p.c over the previous three periods, which marks the larger three-day greenback decline since April 2013.
The prolonged stoop by the price of the valuable steel got here amid a continued rebound by the worth of the U.S. greenback.
The U.S. greenback index has edged up 0.2 p.c to 103.19, persevering with to regain ground after tumbling to a six-month low final Thursday.
Anxiety in financial markets about a world trade struggle additionally continued to weigh on gold despite the fact that the valuable steel is often seen as a protected haven.
Traders additionally continued to money in on the current surge by the price of price of gold, which reached a report closing high final Wednesday.
The views and opinions expressed herein are the views and opinions of the writer and don’t essentially mirror these of Nasdaq, Inc.
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