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Gold at 4 1/2-month lows as dollar, bitcoin, stocks head higher
Thursday, 7 December 2017 20:37 WIB | PRECIOUS METALS |GOLDEMAS

Gold futures resumed their sharp drop Thursday after the previous session™s brief respite, plumbing 4 1/2-month lows as the dollar firmed, bitcoin surged and the S&P 500 tried to snap a four-day slide.

February gold fell $9.70, or 0.8%, to $1,256.60 an ounce. A close at these levels would mark the lowest since late July as gold was down nearly 2% for the week. The SPDR Gold Trust ETF fell by 0.8% premarket. The VanEck Vectors Gold Miners ETF was down 1.3%.

The ICE U.S. Dollar index was up 0.3%, adding to its 0.7% gain so far this month after ending November roughly 1.6% lower. Stocks remained focused on Washington developments and select earnings. The yellow metal often moves inversely to the dollar and riskier assets including stocks.

Source: Marketwatch

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