Gold dips

11 Sep, 2019 - 00:09 0 Views
Gold dips Market watchers say that some gold producers, especially those in the small-scale and artisanal mining sector, end up channelling their produce to the black market due to the inefficiencies of the state buyer

The Herald

Gold dropped to a near one-month low yesterday to hold below the key $1,500 pivot, hit by a stronger dollar and an improved appetite for riskier assets supported by hopes of global economic stimulus.

Spot gold was down 0,3 percent at $1,494.04 per ounce as of 1126 GMT.

“More recently, we’ve had quite a broad improvement in risk appetite – the US stock markets are now little shy away from record highs — that is taking some of the edge off gold,” OANDA senior market analyst Craig Erlam said.

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