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Gold Settles at Lowest Closing Level in Month

M. Ali 29 October, 2020 12:42 am Commodities, Market Update

Gold prices declined on Wednesday to finish at their lowest level in about a month, as the US Dollar (USD) rose across the board amid concerns about the rising number of new COVID-19 cases.

Gold futures for December delivery plunged by $32.70, or 1.7%, and closed at $1,879.20 per ounce.

This is the lowest closing level for the yellow metal’s most active futures since September 25.

Meanwhile, silver futures for December delivery continued its downward trend and dropped by $1.21, or 4.9%, to settle at $23.359 per ounce, its lowest closing level in about a month.

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