SINGAPORE (Reuters) – Gold extended losses on Wednesday to trade near a nine-month low and looked likely to break below the key $1,200-an-ounce level, clobbered by a stronger dollar and lack of support from top buyer China.
With the dollar at a four-year peak against a basket of major currencies, other precious metals also took a hit. Platinum tumbled to a five-year low, while silver retained sharp overnight losses to trade at its lowest since March 2010.
SINGAPORE (Reuters) – Gold held steady above a nine-month low on Tuesday as Asian equities remained unsettled by political unrest in Hong Kong, but was poised to post its sharpest monthly loss since June 2013 as a rapid climb in the dollar dimmed its appeal.
The precious metal is down about 5.5 percent for the month after hitting a nine-month low of $1,206.85 last week. Gold is also on track to post its first quarterly loss of the year, though it is still up about 1 percent for the year.