single

Bullion prices ended lower at Comex on Monday, 25 June 2018 at Comex. Gold futures finished with a loss on Monday, with the precious metal marking another low year to date, even as the U.S. dollar, strong throughout the month, weakened against its currency rivals. A fresh round of global trade friction was again driving financial market sentiment on Monday, although the issue has had a subdued impact in supporting haven gold.

August gold fell $1.80, or 0.1%, to settle at $1,268.90 an ounce, its finish of 2018 so far. It shaved off 0.6% for last week despite an uptick during Friday's subdued session and was tracking a 2.8% June drop. September silver fell 0.8% to $16.407 an ounce.

The ICE U.S. Dollar Index which reflects the dollar's strength against a half-dozen rivals, was down 0.2% at 94.33, but was up 0.4% so far this month and up 2.4% for 2018 to date.

The 10-year Treasury note often used as a financial benchmark whose yield typically moves opposite of gold, has climbed since the start of June and traded lately just below 2.90%. As for stocks, the Dow DJIA, -1.33% marked its biggest weekly decline since March 23 through Friday and traded even lower on Monday.

Higher rates and a stronger dollar are headwinds for commodities because they don't offer a yield and a strengthening buck tends to weigh on assets priced in the currency, making them more expensive for purchasers using other monetary units. Stock weakness can prove supportive for the perceived haven status of gold, but the two assets were bucking their usual relationship

0 thoughts on “Bullions drop further”

Post Comment





Daily News

VIEW ALL