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Gold Drops After Wall Street Open

2024-06-22OANDAOANDA
Gold fell on Thursday, shrugging off weaker European equity markets as a rebound in oil prices from 12-year lows and a higher opening on Wall Street pointed to a recovery in risk appetite, blunting bullion’s appeal as a haven. Spot gold was down 0.8 percent at $1,084.26 an ounce at 1430 GMT, while U.S. gold […]

Gold fell on Thursday, shrugging off weaker European equity markets as a rebound in oil prices from 12-year lows and a higher opening on Wall Street pointed to a recovery in risk appetite, blunting bullion’s appeal as a haven.

Spot gold was down 0.8 percent at $1,084.26 an ounce at 1430 GMT, while U.S. gold futures for February delivery were down $2.80 at $1,084.30.

The metal hit two-month highs at $1,112 last week as volatility in Chinese stocks battered appetite for risk, but trading has since been choppy. Stocks fell further in Europe on Thursday, but Wall Street opened higher.

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