Today’s AM fix was USD 1,210.75, EUR 974.53 and GBP 772.41 per ounce.
Friday’s AM fix was USD 1,223.50, EUR 984.31 and GBP 779.15 per ounce.
Spot gold fell $3.00 or 0.25% to $1,222.10 per ounce Friday and silver slipped $0.04 or 0.24% to $17.01 per ounce. Gold climbed and silver soared last week - up 2.6% and 4.4% respectively.
Silver in USD - 1 Year (Thomson Reuters)
Gold fell 0.8% today on further speculation the U.S. Federal Reserve is moving closer to raising U.S. interest rates despite a mixed economic outlook. The Fed’s meeting starts tomorrow and is from December 16-17th.
Silver for immediate delivery declined 1% to $16.8605 an ounce in London, after rising in the past two weeks. Platinum slipped 0.8% to $1,220.44 an ounce. Palladium retreated 0.4% to $812.25 an ounce.
Gold futures and options for net long positions rose for a fourth week in the period to December 9, the longest stretch of increases since July, data showed.
Gold’s 2.5% gains last week were the most in two months and came as the dollar declined and global stocks tumbled amid a drop in energy prices.
Holdings in gold-backed exchange-traded products fell 1.5 metric tons to 1,611.3 tons as of Dec. 12, data from Bloomberg shows. They reached the lowest since 2009 on December 8th.
Asian shares were lower except for shares in China which bucked the trend. The Stoxx Europe 600 Index gained 0.5% this morning, for its first gain in six days. It slumped 5.8% last week on concerns about economic growth.
Greece’s ASE Index (ASE) climbed 2% and a rally in energy shares sent European stocks higher after their biggest weekly slump in three years. Standard & Poor’s 500 Index futures climbed 0.8% before data that may highlight U.S. industrial production rose in November. The benchmark S&P lost 3.5% last week for biggest slump since May 2012.