Gold and Silver End the Week Lower
Gold and silver closed lower at the end of the week, posting declines on both a daily and weekly basis. Precious metals volatility has eased at the start of the third quarter after a period of sharper market swings.
Analysts at the World Gold Council said the calmer price action does not rule out another major breakout in gold during the second half of the year. Several potential catalysts could revive bullish momentum.
Those catalysts include a worsening global economy, renewed geopolitical shocks, a shift toward expectations of lower interest rates, and a fresh wave of buying during price dips.
The World Gold Council said these factors could push gold back toward US$4,500 per troy ounce or potentially even higher.
Front-month gold futures fell 0.6% to settle at US$4,104.10 per troy ounce. For the week, gold recorded a decline of around 0.2%.
Silver, meanwhile, dropped 0.9% to US$59.809 per troy ounce, ending the week down 1.4%.
Source : Newsmaker.id
