Gold futures are slumping at the end of the trading week as investors potentially hit the sell button and took the profits, which is evident in the broader market on Friday. The yellow metal is still on track for its best week in more than a decade, driven by investors seeking shelter from the global market chaos. April gold futures tumbled $20.60, or 1.4%, to $1,630.60 per ounce at 16:56 GMT on Friday on the Comex division of the New York Mercantile Exchange. Despite the big drop, gold is poised for a weekly gain of around 9%, lifting its year-to-date jump to 7.3%. This is the best weekly performance since 2008. Silver, the sister commodity to gold, is also in the red to finish the trading week. … [Read More...]

Gold futures are trading higher to finish a turbulent trading week, but they are still on track for a huge weekly loss. The yellow metal is finding support on renewed safe-haven appeal and a lower US dollar. Gold has experienced a significant plunge throughout the market crash as investors liquidate their assets, including gold, to cover margin calls and to build their cash positions. April gold futures jumped $9.10, or 0.62%, to $1,488.50 per ounce at 17:01 GMT on Friday on the Comex division of the New York Mercantile Exchange. Despite the end-of-week push, gold is poised for a weekly decline of about 3%. Year-to-date, gold is down just 2%. Silver, the sister commodity to gold, is rallying to close out the trading … [Read More...]

Gold futures are cratering to finish the chaotic trading week, collapsing more than 4% as the rest of the US financial market rebounds. The yellow metal is set for a huge weekly drop as investors sold off their gold holdings to cover their margins. With equities seemingly calm due to central bank action, can the precious metal stage a rally next week? May gold futures crashed $71.10, or 4.47%, to $1,519.20 per ounce at 17:18 GMT on Friday on the Comex division of the New York Mercantile Exchange. Gold prices are on track for a weekly loss of nearly 6%, wiping out most of their 2020 gains. Year-to-date, gold is still up about 4%. Silver, the sister commodity to gold, is also continuing its downward trend at … [Read More...]

Gold futures are cratering at the end of the trading week, mirroring the rest of the market performance in recent sessions. Despite the yellow metal being a traditional safe-haven for these types of events, investors are not pouring their money into any of the precious metals on Friday. Is there any refuge for the $6 trillion that went off this week? April gold futures crashed $59.80, or 3.65%, to $1,582.70 per ounce at 15:16 GMT on Friday on the Comex division of the New York Mercantile Exchange. Gold prices will settle the week down just under 4%, but they are still up more than 4% year-to-date. Gold is poised for another monthly gain of 3%. Silver, the sister commodity to gold, is also plunging to … [Read More...]