LONDON: Gold touched its lowest additional|in additional} than time period on Monday as markets remained nervous prior to a United States financial organization meeting that might raise interest rates and signal 3 more will increase this year.
The price of gold has bounced when every of the 5 previous United States rate hikes and is predicted to once more, same Ole Hansen, head of goods strategy at Saxo Bank in Danish capital.
Spot gold fell for a fourth straight session and was down zero.1 per cent at $1,312.36 an oz at 1322 time, having earlier born to $1,307.51, its lowest since March one. United States gold futures for Gregorian calendar month delivery were unchanged at $1,312.30.
“We have a band of support at $1,300-$1,307 — there’s the 100-day moving average returning in, there’s the previous low and $1,300 is that the massive psychological level,” Hansen same.
Silver shed zero.4pc to $16.24 an oz. atomic number 46 born zero.4pc to $990.97 whereas atomic number 78 was up zero.5pc at $947.30 when touching its lowest since Gregorian calendar month. 3 at $936.50.