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Gold prices rose $1.41 an ounce Sept. 11 but stayed near a three-week low at $1,365, Reuters reported.
Gold prices rose $1.41 an ounce Sept. 11 but stayed near a three-week low at $1,365, Reuters reported.
Gold futures for December delivery were down in New York, however. The metal dropped $2.72 to $1,361.90 an ounce. Earlier, gold futures on the Comex sank to $1,356 an ounce — the lowest level since Aug. 22, according to Bloomberg.
President Barack Obama’s move asking Congress to delay a vote on a military strike on Syria erased demand for a haven, impacting gold prices.
“Gold prices have started to decline with the declining probability of a military intervention,” a report from Goldman Sachs Group Inc said.
Uncertainty over the future of the US Federal Reserve’s stimulus program is also weighing on the precious metal.
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