Gold ends New Year’s Eve and 2018 in the red, but books 7% quarterly gain as stocks swoon
Gold futures on Monday closed out New Year’s Eve with a loss for the session and 12 months, however garnered some upward momentum as stock-market carnage reignited haven-associated demand and because the greenback weakened considerably. February gold buying and selling on Comex completed down $1.70, or 0.1%, at $1,281.30 an oz., based on FactSet information. Based on essentially the most-energetic contract, gold futures are up 4.7% in December and 7.3% over the past three months of the 12 months, however down by about 2.1%, thus far in 2018, based on FactSet information. Monday’s slight loss got here because the Dow Jones Industrial Average and the S&P 500 index had been aiming to shut out a bruising December and 2018 on a slight excessive be aware. Weakness in equities over the previous three months has given bullion some help, as has a weakening greenback over the previous month. A weaker buck can present help for commodities priced within the unit, because it makes it cheaper to customers of different currencies. A measure of the buck, the ICE Dollar Index , was down 0.2% at 96.22 on Monday and has misplaced 1.1% in December. However, the favored index has gained 1.2% this quarter and has risen 4.5% to this point in 2018.
