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International Precious Metals Futures sharply fell, with COMEX Gold Futures down by 1.87%.
International Precious Metals Futures saw a significant drop, with COMEX Gold Futures falling by 1.87% to $2705.2 per ounce, and spot Gold dropping nearly 1.6% to fall below $2680; COMEX Silver Futures declined by 4.25% to $31.565 per ounce, while spot Silver hit a low of nearly 2.6% to fall below $30.90 during the session. Gold extended its losses, as mixed economic data from the USA prompted investors to take profits after four consecutive days of rising gold prices. Citigroup forecasts that Gold and Silver will gradually return to an upward trend in the next 3-12 months, reaching $3000 and $36 per ounce respectively.
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