Arab Today, arab today gold ends at a twoweek low
Last Updated : GMT 02:22:08
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Arab Today, arab today

Gold ends at a two-week low

Arab Today, arab today

Arab Today, arab today Gold ends at a two-week low

Chicago - XINHUA

Gold futures on the COMEX division of the New York Mercantile Exchange fell to their lowest level in two weeks on Wednesday, derailed by renewed concerns about the euro zone. The most active gold contract for December delivery fell 12.8 dollars, or 0.72 percent, to settle at 1,753.6 dollars per ounce. Reports that Greece may run out of money reignited the fears of its leaving the Eurozone, while Spain\'s Catalonia region called an election and protests rocked Madrid, pressuring the gold trading on the day. According to market analysts, investors turned to other safe- haven assets such as the U.S. dollar and bonds, leaving gold to behave as a commodity rather than benefit from a fear trade. The ICE dollar index, which measures the greenback against a basket of six other currencies, rose to 79.920 from 79.673 in late Tuesday trading in North America. A stronger greenback pressures dollar-denominated commodities as it makes them more expensive for holders of other currencies, diminishing their appeal as investments. Silver for December delivery lost 0.8 cents, or 0.02 percent, to close at 33.94 dollars per ounce.

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