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Gold settles under $1,500, at lowest in 5 weeks


Wednesday, 11 September 2019 02:09 WIB

GOLDEMAS


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Gold futures fell on Tuesday to settle under the psychologically significant $1,500-an-ounce mark, their lowest in five weeks, as a continued rebound by bond yields dulled the metal's appeal.

Gold for December delivery on Comex declined by $11.90, or 0.8%, to settle at $1,499.20 an ounce. That was the first settlement under $1,500, and lowest finish for a most-active contract, since Aug. 6, according to FactSet. Prices also logged a fourth straight session decline.

December silver edged up by 1.9 cents, or 0.1%, to $18.186 an ounce.

Concerns about the U.S.-China trade battle appear to have moved to the back burner for investors after being blamed for volatile market action in August. U.S. Treasury Secretary Steven Mnuchin on Monday told Fox Business that he views renewed discussions with Beijing as a sign of good faith.

Source : Marketwatch


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