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03-05-2019, 05:29 PM
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Weaker gold at risk of seventh straight decline
Gold futures were marginally in the red again on Tuesday, setting the bruised market up for a seventh straight loss as its latest tumble has already marked the longest streak of daily declines in about two years.
Stock-market sluggishness could account for the reduced decline in gold so far early Tuesday. Still,<a href="http://www.marketwatch.com/story/us-stock-futures-climb-on-reports-trade-deal-will-soon-be-finalized-2019-03-04" class="icon none"/> April gold GCJ9, +0.05% fell $1.50, or 0.1%, at $1,286.10 an ounce. Settlement Monday at $1,287.50, was the lowest finish since Jan. 24 for a most-active contract according to FactSet data. Monday’s drop was a sixth straight session in negative territory, the longest stretch of declines since the nine-session fall ended March 10, 2017, according to Dow Jones Market Data. For last week, bullion fell below the closely watched $1,300 line and lost about 2.5% on the week, the sharpest weekly fall since August. Broad risk-on sentiment, which boosted U.S. and global stocks, as well as strength in the U.S. dollar, worked to dull demand for the haven precious metal then and again to start this week. Read: Why gold fell in February, but is still on a long-term track to reach $2,000 an ounce U.S. stock-index futures traded mixed Tuesday as investors continued to keep an eye on developments surrounding U.S.-China trade talks and China’s domestic economy. The government lowered its forecast for Chinese growth to between 6% and 6.5% for this year. The dollar, as measured by the ICE U.S. Dollar DXY, +0.14% was firmer, making gold less appealing to investors using another currency. The index was up 0.2%. May silver SIK9, +0.26% *was also marginally in the red, last down less than 0.1% at $15.095 an ounce. . Providing critical information for the U.S. trading day. Subscribe to MarketWatch’s free Need to Know newsletter. Sign up here. </p> Source link More ??????? ??????: Weaker gold at risk of seventh straight decline || ??????: ahlam1399 || ??????: اسم منتداك
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