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Gold fell again on Wednesday, but kept above $1,200 per ounce at $1,206.26. That’s a drop of 0.1 percent from Tuesday.
Gold fell again on Wednesday, but kept above $1,200 per ounce at $1,206.26, according to Reuters. That’s a drop of 0.1 percent from Tuesday. Meanwhile, US gold futures for June delivery fell $4.10 to hit $1,206.50.
The yellow metal’s decline came as the US dollar continued its descent and as expectations swelled around the Federal Reserve delaying a US rate increase until next year. “We’re seeing the hawkish sentiment dissipate,” said Hamza Khan, senior commodity strategist for ING. “It’s becoming clear that outside of the U.S. payrolls numbers, the rest of the economy was not exactly booming. The blush of the dollar’s rose is beginning to wear off. That makes for a really interesting proposition for gold.”
