Gold prices fell for a third straight session on Wednesday, hitting a fresh six-month low, as investors focused on expectations the Federal Reserve will continue to raise interest rates.
Gold prices fell $7.19 an ounce on Tuesday to settle at their lowest level since mid-December as a strengthening dollar fueled downside momentum.
Gold prices dropped $4.79 an ounce on Monday as a general sell-off in the raw commodity sector weighed on the market.
Gold ended the week down $8.90 at $1269.05 an ounce, posting a second consecutive weekly loss.
Gold prices are slightly higher in early Asia trading on a mild rebound following recent selling pressure that took prices to the lowest level since December 19.
Gold prices fell $6.58 an ounce on Wednesday as a stronger greenback offset safe-haven bids from escalating trade tensions between the U.S. and China.
Gold prices ended Tuesday’s session down $4.01 an ounce as investors continued to focus on the recent strong rally in the U.S. dollar index.
Gold prices are higher in Asia trade, trading up 0.35% at $1282.98 an ounce, as escalating trade tensions between the U.S. and China triggered some safe-haven buying that helped underpin gold.
Gold prices settled at $1280.12 an ounce on Friday, falling 1.48% on the week, as a solid rebound in the U.S. dollar dented appetite for the yellow metal.
Gold prices rose $2.77 an ounce on Thursday as worries about global trade offset pressure from a stronger dollar.
Gold prices ended Wednesday’s session up $3.75 an ounce as the dollar’s rally in the wake of the Fed statement faded.
Gold prices were largely unchanged on Monday as investors awaited policy meetings from two of the world’s major central banks.
Gold prices settled at $1298.51 an ounce on Friday, rising nearly 0.44% over the course of the week, as safe-haven demand rose on geopolitical tensions.
Gold prices are largely unchanged in early Asia trading today as investors remained cautious ahead of key events such as the G7 summit and the Federal Open Market Committee meeting.
Gold prices ended Wednesday’s session nearly unchanged after shuffling between gains and losses.