Gold extended losses on Thursday after the previous session's volatile trade, with a slow physical sector suggesting that jewellers and investors were waiting for prices to drop further from four-month highs. Gold has risen more than 10 percent so far this year on uncertainty over the pace of the US economic recovery, worries about growth in China and renewed interest in bullion-backed exchange traded funds.
Gold fell 0.16 percent to $1,328.61 an ounce by 0712 GMT. On Wednesday, it hit a four-month high at $1,345.35 before falling almost 1 percent on a dollar rally and surging US home sales.
Comments
Comments are closed.