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Gold Prices Hit Two-Week Low, Focus on Eurozone Debt Crisis
Sep. 26, 2012 03:53PM PST
Precious MetalsReuters reported that gold prices ended lower on Wednesday’s trading session, off a previous two-week low. Responsible for weaker gold is a stronger dollar and weaker crude oil, triggered on profit-taking following the bullion’s recent rally. Investors are also shifting their focus to developments in the latest bout of Eurozone debt crisis.
Reuters reported that gold prices ended lower on Wednesday’s trading session, off a previous two-week low. Responsible for weaker gold is a stronger dollar and weaker crude oil, triggered on profit-taking following the bullion’s recent rally. Investors are also shifting their focus to developments in the latest bout of Eurozone debt crisis.
As quoted in the market news:
Spot gold was down 0.5 percent at $1,751.50 an ounce by 3:51 p.m. EDT (1951 GMT), recovering from a two-week low reached earlier in the session at $1,737.50 an ounce. U.S. gold futures for December delivery settled down $12.80 at $1,753.60, with trading volume about 10 percent above its 250-day average.
