Selling pressure in precious metals: Gold and silver decline
Istanbul, July 28 (Hibya) – Precious metals came under selling pressure in commodity markets on the first trading day of the week. Prices of gold, silver, platinum and palladium declined, while copper also posted a limited loss.
Precious metals came under selling pressure in commodity markets on the first trading day of the week. Prices of gold, silver, platinum and palladium declined, while copper also posted a limited loss.
The price of gold fell 0.71 percent to $4,047.90 per ounce. Silver declined 2.04 percent to $57.515, recording one of the sharpest losses of the day.
Among industrial metals, copper slipped 0.31 percent to trade at $6.359.
Among the other precious metals, platinum declined 1.13 percent to $1,613.80, while palladium lost 1.68 percent to fall to $1,275.00.
As investors focused on the global economic outlook, the direction of the U.S. dollar and interest rate expectations, selling pressure prevailed across precious metals, while cautious pricing was also observed in industrial metals.
Usa News Agency
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