Gold remained pressured as trading was still volatile. Yet, the decline was more moderate and buying interests were seen below 1100. The benchmark Comex contract dropped -0.30% and settled at 1103.3. The recent volatility in gold trading was likely driven by China. It was reported that around 5 tonnes of gold was sold on the Shanghai Gold Exchange in 2 minutes at one point on Monday. The normal volume traded is 25 tonnes in a day.
Excerpt from:
Buying Interest of Gold Emerged below US$1100/bbl
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