Gold Reaches the Worst since May
According to Reuters, gold fell by a 0.5 percent to $1,234.49 an ounce by 0323 GMT on Friday. This was after it fell to $1,231.95 which was the lowest since late January.
It had the biggest weekly fall since the week ended May 30 by dropping down by 2.7 percent. The dollar index was approximately on a 14-month high on Friday. It was strong on track to post its ninth consecutive week of gains. The Weak investor interest was shown in the SPDR Gold Trust. It is the world’s largest exchange traded fund which is backed by gold that saw holdings drop 0.32 tonnes to 788.40 tonnes on Thursday.
The weakness in gold also influenced other precious metals like silver, platinum and palladium. Silver fell to a 14-month low which is running on losses since eight weeks out of nine. Platinum also fell to its lowest since December. This is the worst performing week for platinum since April. Palladium fell by 7% making it this week’s worst performing metal. This fall is the worst for Palladium since June 2013.
Image by PublicDomainPictures from Pixabay (Free for commercial use)
You may also like
Image Reference: https://pixabay.com/photos/gold-wealth-finance-deposit-163519/
Recent Posts
- Unlocking the power of vitamin D for healthVitamin D plays a critical role in our body's ability to absorb calcium.
- The top 10 economies of 2024India, ranking fifth with a GDP of $4,112 billion, showcases rapid economic growth.
- A journey through time: Kozhikode’s personal election museumVikas treasures an antique ballot box once belonging to his grandfather, a dedicated Congress party worker.
- Unlocking the power of vitamin D for health
What’s new at WeRIndia.com
News from 700+ sources
-
Tragedy in Chatra: Bus Overturns, Claiming Two Lives and Injuring 18
-
TMC’s Abhishek Banerjee attacks BJP, accuses them of opposing Bengal’s values
-
Health issue: Eating cut fruits by adding salt or sugar is harmful, it can cause harm to health.
-
Malla Reddy’s U-turn on BJP’s Eatala Winning Malkajgiri
-
IndiGo Aircraft Forced to Return to Delhi Airport Mid-Flight Due to Technical Issue
-
Important to know: Are you also unable to stay away from your mobile even for a short time? Do you have ‘nomophobia’?
-
WeRIndia – A News Aggregator
Visit werindia.com for all types of National | Business | World | Politics | Entertainment | Health related news and much more..
Leave a Reply