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The Wall Street Journal reported that gold prices were on the rise on Monday morning on the back of uncertainty over oil prices and a weak US dollar. However, the yellow metal lost some of its gains in later trading hours. As quoted in the publication: Gold for June delivery tempered gains from earlier in …
The Wall Street Journal reported that gold prices were on the rise on Monday morning on the back of uncertainty over oil prices and a weak US dollar. However, the yellow metal lost some of its gains in later trading hours.
As quoted in the publication:
Gold for June delivery tempered gains from earlier in the morning, recently up 0.1% at $1,235.50 a troy ounce on the Comex division of the New York Mercantile Exchange. Gold traded as high as $1,243.30 earlier in the session.
Some analysts noted that a more bearish outlook on oil has supported gold prices, as investors look to haven assets amid falling oil prices. A Sunday meeting between major oil producers in Doha failed to produce an agreement on limiting production. U.S. oil futures were recently down 2.6% at $39.32 a barrel.
