Spot gold prices are trading in negative territory Tuesday moving in tandem with an extended move lower across other commodity markets. Spot gold ended Monday’s session $8.95 lower at $1761.45/oz after prices corrected lower amid an alarming drop in WTI prices which sent many commodity prices falling, with the sharp down move in oil still being investigated by regulators. Cash prices in the precious metal have continued to correct lower from highs of $1765 to trade a session low of $1752.45/oz a few moments ago. There have been some reports of interest to sell gold, buy yen, which has also contributed to some of the pressure on gold this morning, in line with falls in other yen cross pairs. Spot gold is currently trading $1754.90 a troy ounce, down $6.55 on the session.
EasyForexNews Research Team