Gold
finished lower on Tuesday, as it remained weighed down by recent hints
from the U.S. Federal Reserve that an interest-rate increase could come
yet this year.
December
gold ended down $21.80, or 1.9%, to settle at $1,114.10 an ounce,
posting its worst point and percentage drop since Oct. 29, when it lost
$28.80, or 2.5%. Tuesday’s decline marks the metal’s fourth consecutive
decline and its longest losing streak since Sept. 25, when the precious
metal went on a five-session losing streak, according to FactSet data.
Investors
and analysts are watching U.S. economic data for further clues as to
when the country’s first rate rise in almost a decade will come, but
many believe that such numbers will provide a patchy picture going
forward, keeping pressure up on the precious metal.
Source: Bloomberg
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