Spot gold fell more than $17 June 11 to $1,368.61 an ounce.
Gold Market News Directory
Nasdaq reports that China will launch two gold bullion ETFs.
Bloomberg reported that, according to technical analysis from Bank of America Corp., gold is poised to plummet to $1,250 an ounce over the next month.
Spot gold fell as low as $1,375.99 an ounce June 10 — a near two-week low, before recovering 0.1 percent to $1,384.79, Reuters reported.
Reuters reported that gold built on Friday's losses in London on Monday, against a strengthening dollar. As quoted in the market report:
Reuters reported that gold held ground above $1,400 an ounce on Thursday, while investors wait for word on U.S. jobs data, and were encouraged by the ECB's decision to hold rates steady, citing confidence in a gradual recovery
Gold prices were back up June 5 to $1,402.41 an ounce, an increase of $2.80 from the previous session, Reuters reported.
CNBC reported that gold was given a push over $1400 an ounce on Wednesday, boosted by weaker than expected U.S. employment data, reducing speculation that the U.S. Feds will scale back its $85 billion monthly bond-buying program.
The International Business Times reported that major gold consumer, India plans to extend restrictions on gold imports.
Gold prices fell below the $1,400 an ounce mark June 4 due to fears that India — the world's top gold consumer — may lower its demand for the metal.