Gold prices fell today due to weak trading volumes as the US and Chinese markets remained closed for local public holidays, while silver fell 2.4% in spot trading to $75.64 an ounce after gaining 3% in the previous session. Platinum fell 0.8% to $2,045.11 an ounce. Palladium fell 0.7% to $1,673.52 an ounce.
Gold fell 1.1% in immediate trading to $4,986.32 an ounce. US gold futures for next April delivery fell 0.8% to $5,005.60 per ounce.
absence of stimulus
“After the release of the consumer price index data, gold gave up some of the gains it achieved today due to lower trading volumes and the absence of new incentives to rally,” said Tim Waterer, chief market analyst at one of the expert groups. See US consumer price inflation data.
Gold prices fell today due to weak trading volumes as US and Chinese markets remained closed for local holidays in celebration of President’s Day and Lunar New Year, while silver fell 2.4% in spot trading to $75.64 an ounce after rising 3% in the previous session. Platinum fell 0.8% to $2,045.11 an ounce. Palladium fell 0.7% to $1,673.52 an ounce.
In spot trading, gold fell 1.1% to $4,986.32 an ounce. US gold futures for April delivery fell 0.8% to $5,005.60 per ounce.
lack of catalyst
“Gold today gave up some of the gains it gained following the CPI release due to lower volumes and no new upside catalyst,” said Tim Waterer, chief market analyst at one of the expert groups. This refers to US consumer price inflation data.
