Gold prices settle in bear for the first time in four sessions in the first trading session of the week. Prices were pushed down as tension between the U.S. and North Korea seem to have died down a bit, the dollar strengthened and the U.S. equities climbed which dulled investment demands for haven like precious metals.
December gold futures fell by $3.60 or equal to 0.3%, to settle at $1,290.40 per ounce. Prices for the precious metal had gained a sum of more than 2% over the past three sessions. While September Silver was tacked on 5.2 cents, or 0.3%, to be traded at $17,122 per ounce afte the session ended platonic for Friday’s session.
Last, week the precious metal scored its strongest weekly gain in four months and later settles at its highest level in more than 2 months. This was when the tension between North Korea and the U.S. were spreading wildfire need for safe haven assets.
But, for now, gold prices took a hit as the U.S. dollar strengthened against most of the its rivals plus the U.S. stock trading broadly higher.
Other metal on Comex ended on a mixed note Monday. September copper fell just under a penny or 0.3% and was last seen trading at $2.905 per pound and October platinum was down by $14.08 and is equal 1.5% it was being traded at $974.90 per ounce while September palladium settles at $989.15 per ounce which was up by $3.45 or 0.4%.