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Gold Registers Biggest Daily Drop in Two Weeks

M. Ali 21 July, 2021 10:56 pm Commodities, Market Update

Gold prices resumed losses on Wednesday, falling for the third time in four sessions, despite a mixed performance by the U.S. Dollar (USD) with lower demand for safe havens as stock markets surged to recover from earlier declines.

The yellow metal’s front-month futures Gold for July delivery lost $8.00, or 0.44%, to settle at $1802.90 per ounce.

This is the lowest for gold futures on the Commodity Exchange (COMEX) since July 8.

Meanwhile, silver futures gained 26.10 cents, or 1.04%, to close at $25.238 per ounce after declining for three consecutive sessions, registering its highest increase since July 2.

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