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Gold spot fell and investors waiting for data on Friday

ByVictoria

Spot gold fell 0.7% to $2,894.55 an ounce as of 09:44 a.m. ET (1444 GMT). Bullion, a preferred hedge against uncertainty and inflation, hit a record high of $2,956.15 on Monday amid trade war concerns emerging from tariff threats.

“Bullish trend is still in place… We are not surprised by a period of consolidation ahead of some piece of important data,” said David Meger, director of metals trading at High Ridge Futures.

Spot silver was down 0.5% to $31.57, platinum eased 0.4% to $963 and palladium dropped 0.4% to $924.01.

Source – Reuters

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    Futures (in finance) – Are contracts to buy or sell a specific underlying asset at a future date.

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    Jefferies – Jefferies Financial Group Inc. is an American multinational independent investment bank and financial services company headquartered in New York City.

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    Hindustan Zinc shares up 5%

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    The shares of Hindustan Zinc surged nearly 6 percent to trade at Rs 496 apiece on June 5 on the back of a notable surge in silver prices in India.

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    Spot gold was up 0.6% at $3,373.09 an ounce, as of 0552 GMT. U.S. gold futures gained 1.5% to $3,393.80.

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