Gold price drops below the key $1,500 an ounce level, lowest close in 2 months
Gold prices dropped over 2% Monday, settling below the psychologically important level of $1,500 to post their lowest finish in two months, as strength in U.S. dollar and some buoyancy in U.S. stocks and yields drew demand away from bullion.
“However, technical considerations may be more influential on today’s action in the gold market,” he said. “Gold has formed a bearish head-and-shoulders pattern, and today’s drop below the formation’s ‘neckline’ has likely spurred additional selling.” Gold for December delivery GCZ19, -1.85% on Comex declined $33.50, or 2.2%, to settle at $1,472.90 an ounce—the lowest finish for a the most-active since contract since Aug. 2, according to FactSet data. For the month, the contract declined 3.7%, but gained 3.4% over the past three months.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Kristen Sonday Shares 3 Lessons She Learned After Raising Over $1 Million In FundingThe co-founder of Paladin shares how she embraced pivoting and other lessons learned.
Read more »
Athletics: Gold is gold even without my flag, says Russian champion SidorovaRussian pole vaulter Anzhelika Sidorova said her victory at the world championsh...
Read more »
Cory Booker says he hit his $1.7M campaign fundraising goal
Read more »
Apple's stock surges back above $1 trillion market cap in intraday trading, pacing DowShares of Apple Inc. rallied 2.4% in midday trading toward a near 11-month high, after J.P. Morgan raised its price target, citing signs of...
Read more »
Cycling: Van Vleuten solos to world gold in women's road raceDutchwoman Annemiek van Vleuten produced one of the greatest solo rides ever see...
Read more »
Athletics: Coleman storms to 100 meters goldChristian Coleman claimed the 100 meters world championship gold medal on Saturd...
Read more »