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Gold Ends at Nearly 3-Week Low as Dollar, Stocks Perk Up


Wednesday, 22 May 2019 01:36 WIB

GOLDEMAS


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Gold futures ended lower Tuesday as global stocks staged a rebound and the dollar strengthened a bit, dulling bullion's appeal and sending prices to the lowest finish in almost three weeks.

June gold on Comex lost $4.10, or 0.3%, to settle at $1,273.20 an ounce, after booking a modest rise on Monday. The yellow metal logged the lowest most-active contract settlement since May 2, and turned slightly lower week to date, according to FactSet data.

Gold's recent gains had been supported by increased U.S.-China trade tensions and worries about other political uncertainties, including the threat of military escalation between Iran and the U.S. and a disorderly exit from the European Union by Britain.

Gold futures managed to pare some of its earlier losses after data on U.S. existing-home sales showed an adjusted annual rate of 5.19 million in April, 0.4% lower than March.

Source : Marketwatch


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