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Gold hits over two-week low; set to end six-month losing streak


Wednesday, 31 October 2018 13:25 WIB

GOLDEMAS Spot EmasEmas berjangkaGold Spot


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Gold prices fell to a more than two-week low on Wednesday as Asian stocks gained and the dollar touched multi-month highs on upbeat U.S. economic data.

The yellow metal, however, remained on track to end a six-month losing streak, the longest since a period that finished in early 1997.

Spot gold was 0.4 percent lower at $1,217.26 an ounce at 04:19 GMT, having touched its lowest since Oct. 12 at $1,215.35 earlier in the session. It has risen about 2.4 percent so far in October, the biggest monthly gain since January.

U.S. gold futures fell 0.5 percent to $1,219.3 an ounce.

The midterm elections, on Nov. 6, will determine whether the Republican or Democratic party controls the U.S. Congress.

Among other precious metals silver was down 0.4 percent at $14.40 per ounce after touching more than two-week low of $14.31.

Platinum rose 0.1 percent to $833.10 per ounce, while palladium climbed 0.4 percent to $1,076.99 per ounce.

Source: Reuters


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