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Gold Slide Gathers Steam After Upbeat U.S. Economic Reports


Thursday, 16 May 2019 20:15 WIB

GOLDEMAS


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Gold futures retreated Thursday, gaining steam after a batch of domestic data, but remaining on track for a modest weekly gain.

June gold futures on Comex were off $7.20, or 0.6%, at $1.290.60 an ounce, while July silver was off 7 cents at $14.740 an ounce. Gold is up 0.3% so far this week, while silver is down 0.3%, according to FactSet data.

Gold briefly traded above the $1,300 level in Wednesday dealings, despite a stronger U.S. dollar. A stronger currency can be a negative for commodities priced in it, making them more expensive to users of other currencies.

Source : Market Watch


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