Gold is headed for its first annual decline in 3 years


Gold fell on Monday, while shares gained the opportunity for progress in trade between China and the United States, while metal prices were heading for their first annual decline since 2015, weighed down by the increase in dollar on trade concerns and rising interest rates.

However, the precious metal is at its best month since January 2017, as it has been hit sharply during the course of the year due to stock volatility and dollar cooling, as well as concerns over the slowing down of the dollar. global economy.

At 6:22 GMT the spot price of gold was down 0.2 percent to $ 1279.17 an ounce, close to a six month high of $ 1282.09 on Friday.

US gold futures fell 0.1% to $ 1281.5 an ounce.

"Fears of trade war between the United States and China are calming down, which has supported the stock market," said Agai Kydia, director of Cambodia's main commodity company, Kydia. "There's a bit of sales for gold profits before the end of the year.

Palladium, on the other hand, is the best performing metal this year, surpassing gold for the first time since 2002 thanks to strong demand from auto-catalytic producers used in automobiles in a lack of production.

Metal has increased by 18% this year and is heading for the fifth month in a row.

Silver rose 0.4% in spot trading at $ 15.40 an ounce, but is down more than 9% for the whole year.

Platinum fell 0.21% to $ 787.74 an ounce, down 14.5% in 2018.



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