Gold holds above key $1,300 level

ArticleChange of moneyMay 28, 2018 - 3:48:30 AM

The precious yellow metal drops a little, pressured by increased in the U.S. dollar, but prices still just above the $1,300-an-ounce level to score a gain.

Indeed, June gold GCM8, -0.50% drops by 70 cents, or less than 0.1%, to settle at $1,303.70 an ounce, but climbed around 1% for the week. It established at the highest finish since May 14 on Thursday, after President Donald Trump announced the cancellation of a June 12 meeting with North Korea’s president. U.S.

This stability above $1,300 “may mean the end of the worst selling period,” according to Mark O’Byrne, research director at GoldCore. “In spit of the short term technical risks, the medium and long term forcasts remains bullish. The geopolitical conflicts should make gold demand remain robust...”


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