Gold slipped on Wednesday, fell back after a sizable advantage in the
previous session, as a stronger dollar and rising U.S. equity markets lure
investors away some of the precious metal.
Gold for February delivery traded down $ 4.60, or 0.3%, to $ 1,657.60 an ounce on the Comex division of the New York Mercantile Exchange. Gold jumped $ 15.90 per ounce, or 1%, and closed at $ 1,662.20 on the session Tuesday amid signs of growing demand in Asia.
Gold slipped Wednesday as the dollar rebounded against the yen after a brief corrective rebound to make it stronger Japanese currency. The euro also fell against the dollar ahead of the monthly policy meeting of the European Central Bank on Thursday.
Some analysts see continued demand for gold from China to support the increase.
In other metals trading, silver for March delivery fell 22 cents, or 0.7%, at $ 30.25 per ounce, while March copper was trading up 3 cents, or 0.9%, to $ 3.71 per pound. April platinum rose $ 5.30, or 0.4%, traded at $ 1,588.50 an ounce, while March palladium rose $ 12.35, or 1.9%, at $ 680.20 per ounce.
Gold for February delivery traded down $ 4.60, or 0.3%, to $ 1,657.60 an ounce on the Comex division of the New York Mercantile Exchange. Gold jumped $ 15.90 per ounce, or 1%, and closed at $ 1,662.20 on the session Tuesday amid signs of growing demand in Asia.
Gold slipped Wednesday as the dollar rebounded against the yen after a brief corrective rebound to make it stronger Japanese currency. The euro also fell against the dollar ahead of the monthly policy meeting of the European Central Bank on Thursday.
Some analysts see continued demand for gold from China to support the increase.
In other metals trading, silver for March delivery fell 22 cents, or 0.7%, at $ 30.25 per ounce, while March copper was trading up 3 cents, or 0.9%, to $ 3.71 per pound. April platinum rose $ 5.30, or 0.4%, traded at $ 1,588.50 an ounce, while March palladium rose $ 12.35, or 1.9%, at $ 680.20 per ounce.
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