Spot Gold Falls 0.5%, Turns Lower
JH Kim
Summary
- Spot gold fell to $4,304.19 an ounce, down 0.5%% from the previous session.
- Gold prices weakened amid expectations of easing tensions between the US and Iran and profit-taking selling.
- The market is watching progress in US-Iran talks, expectations for the reopening of the Strait of Hormuz, and the Federal Reserve's policy path along with developments in the Middle East.
Forecast Trend Report by Period
Spot gold turned lower.
Walter Bloomberg reported on June 17 that spot gold fell 0.5% from the previous session to as low as $4,304.19 an ounce during trading on June 14.
Gold prices appeared to weaken as profit-taking emerged amid growing expectations of easing tensions between the US and Iran.
Market participants say progress in US-Iran talks and expectations for the reopening of the Strait of Hormuz are tempering demand for safe-haven assets.
Investors are also watching the Federal Reserve's policy path and developments in the Middle East.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
