Gold prices closed at their lowest level of 2012 after having probed even lower (around $1,540) during the trading day on Tuesday. The dollar’s 13-day advance is the longest winning one since the trade-weighted index was created.
Barclays Capital analysts find that the slow but steady leakage of metals tonnage from various ETFs is underscoring the ebbing interest in precious metals at the present time. Gold balances in such vehicles have declined by six tonnes this month.
This morning, the midweek session in New York opened lower as gold notched a fourth day of losses, and traded near $1,640 per ounce. Anxieties connected to China’s economy flared up once again this morning.