Gold reduces losses after falling more than 4%

Gold reduces losses after falling more than 4%

Gold reduces losses after falling more than 4%

Gold pared its losses after it fell about four percent to its lowest level in more than five years Monday

This coincided with the sell-off in China’s largest consumer of the precious yellow metal in the world in light of the growing expectations for higher interest rates in the United States, which formed a new blow to the status of gold as a safe haven for investment.

Gold fell to $ 1088.05 an ounce (an ounce), recording the weakest level since March 2010 after he opened the Shanghai Gold Exchange shortly, where volumes rose to a record level.

And the decline in the gold spot market 1.5 percent to $ 1116.43 an ounce by 0711 GMT, to come back to climb above the support level at $ 1100.

And it fell Gold futures in the United States in August 1.5 percent to $ 1114.50 delivered an ounce after falling to 1080 dollars during the session.

Platinum fell by about five percent to $ 942.49 an ounce, down from his gold and registered its lowest level since February 2009 before recovering to be trading at 974.24 percent, down 1.8 percent.

And palladium fell 3.4 percent to $ 593 an ounce, its lowest level since October 2012 before trimming its losses and up to $ 606, down 1.3 percent.

The silver is the least affected among the psychological metals it fell Monday as 0.5 percent to $ 14.79 an ounce.

Leave a Reply

Your email address will not be published. Required fields are marked *