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Gold Prices Fell on the back of continued dollar strength on Tuesday, MarketWatch reported. Gold for December delivery lost $0.1 percent to trade at $1,131 per ounce on the Comex.
Gold Prices Fell on the back of continued dollar strength on Tuesday, MarketWatch reported. Gold for December delivery lost $0.1 percent to trade at $1,131 per ounce on the Comex.
As quoted in the publication:
The slide in the metal comes amid a broad selloff in commodities that has sent many metals, including copper, to monthly and multiyear lows on fears that China, one of the biggest importers of metals, is facing a sharp economic slowdown.
Gold “has been behaving more like a raw commodity and less like a safe-haven asset recently, and that’s bearish given the present slump in the raw commodity sector,” said Jim Wyckoff, senior analyst at Kitco.com.
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