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Gold Closes Lower for Sixth Day in Row

M. Ali 28 January, 2021 11:22 pm Commodities, Market Update

Gold prices closed lower on Thursday, declining for the sixth consecutive session, recording its longest downward trend since early March 2019.

The yellow metal futures rose earlier today on the back of the U.S. Dollar (USD) decline, before falling as U.S. Treasury yields rose.

The decline also comes amid an improved risk appetite across markets and reduced demand for safe havens.

Gold futures for February delivery decreased by $7, or 0.4%, to close at $1,837.90 per ounce.

Meanwhile, gold futures for April delivery finished lower by $7.70, or 0.4%, at $1,841.20 per ounce.

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