Gold slid for a fifth straight session on Monday, in its longest losing streak since November, as investor sentiment was hurt by stronger global equities and weak physical demand in Asia.
Spot gold eased 0.3 percent to $1,247.20 an ounce by 0028 GMT. It wasn’t too far from a 4-month low of $1,241.99 hit on Friday. The 5-day fall is the metal’s longest losing streak since October-November when it fell for seven straight days.
Gold is often seen as an investment-hedge to riskier assets such as equities. Global equity markets traded mostly flat on Friday but the Dow and S&P 500 set fresh closing highs.
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.