Gold settled on Monday at a four-month low, touching on the\nprevious session with support from a weaker dollar and expectations that the US\nwould impose further restrictions on Iranian oil exports.<\/p>\n\n\n\n
Spot gold did not change much at $1.274.58 an ounce. Thursday it\nreached $1270.63 an ounce, its lowest level since Dec. 27. US gold futures rose\nby 0.1%, to $1,276.60 an ounce.<\/p>\n\n\n\n
The United States has taken an “aggressive move by not\nextending the sanctions,\u201d declared senior analysts. According to them, there\nare some geopolitical risks and little demand for safe haven gold. They added\nthat the weaker dollar and softer stocks support the strength of precious\nmetals.<\/p>\n\n\n\n
Oil exceeded $74 a barrel on Monday, the highest since November.\nThe United States is set to announce further restrictions on Iranian oil\nexports.<\/p>\n\n\n\n
Wall Street stocks were trading lower, weighed down by technology\nshares, which helped bullion rally safe haven bids.<\/p>\n\n\n\n
Experts believe there is some risk aversion in the market to\nstart the trading week, as the United States wants to escalate economic\nsanctions against Iran.<\/p>\n\n\n\n
The dollar fell 0.2%, making bullion cheaper for investors who\nwere holding other currencies.<\/p>\n\n\n\n
Technically, traders said that gold breaking below key support\nlevels, including moving averages for 100 and 50 days last week, suggests\nfurther price declines.<\/p>\n\n\n\n
Technically, gold bears have a near-term technical advantage.\nMeanwhile, speculators placed a short position on COMEX gold in the week ending\nApril 16, the US Commodity Futures Trading Commission said on Friday.<\/p>\n\n\n\n
SPDR Gold Trust, the world’s largest gold-backed investment fund,\nfell to 751.68 tonnes on Thursday, the lowest since Oct. 26.<\/p>\n\n\n\n
Among other metals, silver rose 0.5% to $15 an ounce. Platinum\nfell 0.4% to $896.90 an ounce and palladium fell 2.3% to $1389.35 an ounce,\nafter rising earlier to a two-week high of $1429.91 an ounce.<\/p>\n","protected":false},"excerpt":{"rendered":"
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