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No bid for gold as it drops to six-week low

Published 05/04/2017, 12:56 PM
Updated 05/04/2017, 12:56 PM
© Reuters.  No bid for gold as it drops to six-week low
  • Alongside a 4% decline in the price of oil to a five-month low today, gold (NYSEARCA:GLD) continues its slump, off another 1.4% to $1,231 per ounce. The metal was at $1,300 as recently as three weeks ago.
  • Today's move in gold is particularly notable given the rough session for the dollar (UUP -0.5%).
  • The move also comes ahead of tomorrow's employment report, which may or may not bolster the case for a June rate hike.
  • ETFs: GLD, IAU, PHYS, SGOL, UGL, DGP, GTU, UGLD, GLL, DZZ, GLDI, OUNZ, DGL, DGZ, DGLD, GYEN, GEUR, UBG, QGLDX, GHE, GHS, GLDW
  • Now read: Gold To Continue Breaking Lower


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