Gold fell on Thursday, shrugging off weaker European equity markets as a rebound in oil prices from 12-year lows and a higher opening on Wall Street pointed to a recovery in risk appetite, blunting bullion’s appeal as a haven.
Spot gold was down 0.8 percent at $1,084.26 an ounce at 1430 GMT, while U.S. gold futures for February delivery were down $2.80 at $1,084.30.
The metal hit two-month highs at $1,112 last week as volatility in Chinese stocks battered appetite for risk, but trading has since been choppy. Stocks fell further in Europe on Thursday, but Wall Street opened higher.
via Reuters
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.
Alfonso Esparza
Latest posts by Alfonso Esparza (see all)
- Canadian Inflation Lifts Probabilities of an October Rate Hike - 09/21/2018
- US Dollar Recovers Ground Ahead of Fed Meeting - 09/21/2018
- Loonie Flat as NAFTA Hope is Cancelled by Oil Drop - 09/20/2018