Gold Falls 2.1% to $4,200 an Ounce in Sharp Market Move
5 Articles
5 Articles
Last week, the strengthening dollar, coupled with expectations, put pressure on precious metals. On an ounce basis, gold fell by 2.1%, silver by 3%, palladium by 2.4%, and platinum by 1.2%.
Precious metal falls by 2.11%, while silver plummets by 3.73%, in the face of the rebound of higher-rate bets in the United States and the energy tension linked to Iran.
As of 06:57 GMT, spot gold was trading at $4,198.10 per ounce, down 2.1 percent. This marked the precious metal's biggest daily drop since September 1st...
(Dan Tri Newspaper) - The sharp drop to the $4,200/ounce range has caused financial institutions to become cautious and divided into factions, but most individual investors still believe the precious metal is only in a necessary accumulation phase.
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