Evening Gold: Hard Drop Down For Gold


Kitco- On Tuesday, the U.S. day session ended with hard losses on Comex gold futures prices, stressed by technical selling, as well as pre-placed sell stop orders being produced. Weak-handed long liquidation was over and above featured before results from a very important U.S. central bank meeting. Spot gold was last quoted down $17.60 at $1,367.50. Comex August gold last traded down $16.70 at $1,366.40 an ounce.

Tuesday was at the higher U.S. stock market correspondingly a bearish factor for the precious metals as it dragged in investor funds at the cost of other investment assets, as well as safe-haven gold. The fresh stock market strong point not only in the U.S. but also in other main world stock markets has kept buying interest in gold and silver narrowed.

The London previous P.M. fixing of $1,384.75 and new P.M. gold fixing is $1,366.75.