Gold Claws Up From Two-Week Lows as Dollar, Stocks Point Lower

Monday, 20 May 2019 18:49 WIB



Gold futures prices inched up from the two-week lows hit to wrap up last week, with both the dollar and stocks pointing lower Monday.

A narrow trading band continues to hamper significant moves for the haven metal, which typically might draw strong demand based on concern for a prolonged trade war that keeps risk markets, including stocks, in flux. Instead, gold futures prices logged a weekly loss of 0.9% last week on the back of a jump in U.S. consumer sentiment and a slightly firmer dollar.

Early Monday, June gold on Comex was up $1.70, or 0.1%, at $1,276.30 an ounce. It finished Friday at $1,275.70, the lowest most-active contract finish since May 2, according to FactSet data.

Source : Marketwatch


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