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Commodities Briefing - Categorized | Bullion/Gold, Commentaries, Price Watch more

Lack of interest sees gold price back below $1,300

Posted on 08 April 2014

The price of gold fell back below the 1,300 an ounce level after traders booked profits on Friday’s brief post US jobs-numbers rally. On the Comex division of the New York Mercantile Exchange, gold futures for June delivery in late afternoon trade exchanged hands for $1,296.90 an ounce, down close to $7 compared to Friday’s close.
Volume was noticeably thin with 70,000 contracts traded, compared to average daily volumes on the exchange of around 200,000. Reuters quotes Jonathan Jossen, a COMEX gold options floor trader, as saying “investors are not taking any interest in the precious metals right now, and gold and silver are definitely in tight trading ranges.”……………………………………….Full Article: Source


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