FXStreet (Córdoba) – Gold prices fell during the New York session as market’s sentiment turned around with US stocks shrugging off early weakness and turning positive.
The yellow metal fell 0.6% to a low of $1,080 an ounce in recent dealings, after closing higher on Wednesday.
The metal has been moving in tandem with market’s mood swings, as investors jump back and forth from strong risk aversion to relief. However, lingering concerns over the global economy favored the metal during the first trading days of the year, with a peak made above $1,100 an ounce last week, before giving way to the current leg down.
(Market News Provided by FXstreet)