Front Month Comex Gold for June delivery lost $15.00 per troy ounce, or 0.64% to $2316.40 this week
–Down four of the past five weeks
–Today it is down $37.40 or 1.59%
–Largest one day dollar and percentage decline since Friday, June 7, 2024
–Snaps a two session winning streak
–Off 4.83% from its 52-week high of $2433.90 hit Monday, May 20, 2024
–Up 27.51% from its 52-week low of $1816.60 hit Thursday, Oct. 5, 2023
–Rose 20.70% from 52 weeks ago
–Off 4.83% from its 2024 settlement high of $2433.90 hit Monday, May 20, 2024
–Up 16.38% from its 2024 settlement low of $1990.30 hit Wednesday, Feb. 14, 2024
–Off 4.83% from its record high of $2433.90 hit Monday, May 20, 2024
–Month-to-date it is down 0.28%
–Year-to-date it is up $254.00 or 12.32%
All prices are calculated based on the settlement price of the current front month contract.
Source: Dow Jones Market Data, FactSet
(END) Dow Jones Newswires
June 21, 2024 14:02 ET (18:02 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
### Additional Insight:
Despite the recent decline in gold prices, geopolitical tensions and inflation concerns continue to support the overall demand for gold as a safe-haven asset. Investors often turn to gold during times of uncertainty to hedge against market volatility and economic instability. This ongoing demand could potentially provide some support to gold prices in the near future.
