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Gold Prices Skid Lower, Threatening To Halt 2-Day Rise But Holding Above $1,700
Thursday, 21 May 2020 19:21 WIB | PRECIOUS METALS |GOLDEMAS

Gold prices headed lower on Thursday, retreating in uneven trade for the yellow metal that looks likely to end a two-session string of gains as investors weigh responses to COVID-19 pandemic.

Analysts noted also that minutes from the policy-setting Federal Open Market Committee helped to fuel worries of deflation which wouldn™t be bullish for gold that tends to draw bids in inflationary environments.

Overall, Fed minutes that were released a half-hour after gold prices officially settled on Wednesday, indicated that the central bank would use œthe full range of their tools to support the economy through the challenging pandemic.

Gold for June delivery on Comex declined $16.10 an ounce, or 0.9%, at $1,736 an ounce, after ending 0.4% higher in Wednesday™s close.

Meanwhile, July silver fell 35 cents, or 2%, to $17.675 an ounce, following a 0.7%, gain in the previous session.

Source : Market Watch

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