Precious Metals

Gold prices fell below the $1,400 an ounce mark June 4 due to fears that India — the world’s top gold consumer — may lower its demand for the metal.

Gold prices fell below the $1,400 an ounce mark June 4 due to fears that India — the world’s top gold consumer — may lower its demand for the metal. Reuters reported spot gold declined as much as $15.35 to hit $1,395.69 an ounce today. Traders expect the metal to fall as low as $1,392.

Gold futures for August delivery fell $18.14 to $1,394.40 an ounce.

The decline in gold prices comes a day after gold reached above $1,400 an ounce during the session before settling at $1,396. MarketWatch reported the increase was helped by a decline in the U.S. dollar. Commodities priced in dollars typically benefit when the greenback weakens, as it makes them less expensive for holders of other currencies.

MARKETS

Markets
TSX19662.97+206.26
TSXV641.29+5.88
DOW32694.85+165.22
S&P 5004112.98+40.55
NASD12318.95+156.36
ASX6889.70+66.50

COMMODITIES

Commodities
Gold1763.23+8.50
Silver20.22+0.28
Copper3.57+0.10
Palladium2133.50+57.50
Platinum896.50+7.49
Oil99.59+3.17
Heating Oil3.60-0.02
Natural Gas8.22+0.09

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