- Gold prices suffered their steepest one-day drop in nearly six weeks, weighed by easing tensions between the U.S. and North Korea, a stronger dollar, and better than expected reading on retail sales and U.S. manufacturing.
- December Comex gold settled 0.8% lower at $1,279.70/oz., slightly paring earlier losses after falling as much as 1.4% earlier.
- “Unless tensions between the United States and North Korea escalate into a military conflict, there should be little upside to gold prices from current levels,” says Julius Baer commodities analyst Carsten Menke.
- But RBC Capital analysts think inflows into gold ETFs could re-accelerate in the current quarter, boosted by a strengthening net speculative position and positive gold price momentum heading into a seasonally stronger period in Q3.
- ETFs: GLD, GDX, NUGT, GGN, DUST, IAU, PHYS, SGOL, GOEX, UGLD, UGL, DGP, SGDM, GLL, GTU, GLDI, ASA, DZZ, OUNZ, RING, DGLD, DGL, TGLDX, DGZ, PSAU, GDXX, GYEN, GEUR, GLDW, UBG, GDXS, GHS, MELT, GHE, QGLDX, GOAU
- Now read: Avi Gilburt - The Market Pinball Wizard
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Gold sinks in worst one-day showing in six weeks
Published 08/15/2017, 03:38 PM
Updated 08/15/2017, 03:38 PM
Gold sinks in worst one-day showing in six weeks
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