A stronger U.S. dollar, continued exchange-traded-fund redemptions, worries about when the Federal Open Market Committee may scale back quantitative easing and technical factors are all weighing on U.S. gold futures.
The most-active June gold contract traded on the Comex division of the New York Mercantile Exchange is headed for its seventh straight down day. As of 11:12 a.m. EDT Friday, it was $24.50 lower to $1,362.40 an ounce and bottomed at $1,357.60, its weakest level since April 18.
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