Gold, silver plummet as China resumes trading after holiday
October 8, 2015 5:09 am
Following China’s week-long holiday, gold dropped from almost two-week highs and silver lost 3% Thursday as Chinese investors sold the precious metals to lock in profits.
Spot gold lost 0.2% to $1,143 an ounce before ending 0.1% lower. The metal had rose to $1,153.30 in the last session, its highest since September 24.
Silver slid 3.2% before recuperating slightly to inch down 2.6% at $15.65. The metal previously surged for four days, touching a 3 ½-month peak earlier this week. Platinum and palladium fell as well.
Gold added $30 an ounce while silver accrued about $1.50 between October 1 and 7, attributing their gain to the weak US dollar. Meanwhile, SPDR Gold Trust slid 0.26% to 687.20 tonnes.
The material has been provided by InstaForex Company – www.instaforex.com
Following China’s week-long holiday, gold dropped from almost two-week highs and silver lost 3% Thursday as Chinese investors sold the precious metals to lock in profits.
Spot gold lost 0.2% to $1,143 an ounce before ending 0.1% lower. The metal had rose to $1,153.30 in the last session, its highest since September 24.
Silver slid 3.2% before recuperating slightly to inch down 2.6% at $15.65. The metal previously surged for four days, touching a 3 ½-month peak earlier this week. Platinum and palladium fell as well.
Gold added $30 an ounce while silver accrued about $1.50 between October 1 and 7, attributing their gain to the weak US dollar. Meanwhile, SPDR Gold Trust slid 0.26% to 687.20 tonnes.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: