[Market Update] Gold down 1.20%; NY gold closes lower

The story

Gold prices closed down 1.20% in the New York market. Market participants believe that higher crude oil prices and rising long-term U.S. interest rates prompted the selling.

NY gold was reported to have closed at $4,364.45. Higher crude oil prices and movements in interest rates were cited as factors behind the sharp decline.

At a glance

ExchangeNew York market (NYSE)

ChangeGold prices closed down 1.20%

Closing priceNY gold closed at $4,364.45

BackgroundSelling dominated amid higher crude oil prices and rising long-term U.S. interest rates

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Reference information generated from public sources. It does not solicit or advise on investments. Prices are 15-minute delayed.