The latest winning streak in gold was in peril on Wednesday, with prices for the precious metal broke out after having surged 7% so far this year. Gold to be delivered in April delivery sank $3.80 or 0.3%, to $1,285.90 per ounce, while Silver to be delivered in March missed a nickel to $20.11 per ounce.
Standard Bank’s Walter de Wet noted he still sees anemic gold demand for Asia in February, as the higher gold prices seen lately reinforced the trend. A day earlier, gold futures moved again as traders responded to US Federal Reserve Chairwoman Janet Yellen’s testimony about monetary policy, bringing the newest advance to 3% above five sessions.
In metals trading, platinum to be delivered in April increased 60 cents to $1,388.40 per ounce. Palladium for March incurred $2.85 or 0.4%, to $719.20 per ounce. High-grade copper to be delivered in March delivery gained 2 cents to $3.23 per pound.
The material has been provided by InstaForex Company – www.instaforex.com
The latest winning streak in gold was in peril on Wednesday, with prices for the precious metal broke out after having surged 7% so far this year. Gold to be delivered in April delivery sank $3.80 or 0.3%, to $1,285.90 per ounce, while Silver to be delivered in March missed a nickel to $20.11 per ounce.
Standard Bank’s Walter de Wet noted he still sees anemic gold demand for Asia in February, as the higher gold prices seen lately reinforced the trend. A day earlier, gold futures moved again as traders responded to US Federal Reserve Chairwoman Janet Yellen’s testimony about monetary policy, bringing the newest advance to 3% above five sessions.
In metals trading, platinum to be delivered in April increased 60 cents to $1,388.40 per ounce. Palladium for March incurred $2.85 or 0.4%, to $719.20 per ounce. High-grade copper to be delivered in March delivery gained 2 cents to $3.23 per pound.
The material has been provided by InstaForex Company – www.instaforex.com
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