Gold inches lower ahead of U.S. economic reports, holds above $1,500

Thursday, 3 October 2019 20:02 WIB



Gold prices on Thursday were retreating slightly, as the precious metal struggled to extend a recent stretch of gains to a third consecutive session that had been supported by worries about the health of the global economy.

December gold on Comex fell $1.80, or less than 0.1%, higher at $1,506.10 an ounce, after rising 1.3% on Wednesday.

Meanwhile, December silver lost 10 cents, or 0.6%, to $17.585 an ounce, after a 2.2% rally in the prior session.

For the week thus far, gold is little changed, gaining less than 0.1%, while silver has edged back by about 0.2%.

Weaker-than-expected global economic data and developments on the international trade front have supported some buying of assets considered havens, like gold, but strength in the U.S. dollar, also drawing some safety bids, has muted some of the advance for precious metals.

Source : Marketwatch


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