Gold slips to five-week low | The Daily Star
12:00 AM, March 05, 2019 / LAST MODIFIED: 12:00 AM, March 05, 2019

Gold slips to five-week low

Gold fell to the lowest in more than five weeks on Monday as the dollar held firm and investors opted for riskier assets on hopes of a thaw in a trade dispute between the United States and China.

Spot gold slid 0.5 percent to $1,286.60 per ounce as of 1048 GMT, having touched $1,285.65, its lowest since Jan. 25 earlier in the session.

US gold futures were down 0.9 percent to $1,288. Gold tumbled 2.6 percent last week, its biggest weekly fall in over 1-1/2 years.

“Increasing risk appetite is clearly a little negative for gold,” Julius Baer analyst Carsten Menke said.

“We saw quite a bit of selling on Friday as the dollar strengthened and that's continuing today, putting some pressure on gold. The break below $1,300 (on Friday) also triggered some more selling from technical traders.”

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