Gold price hits seven-month low as investors turn to other assets

New York (Feb 21)  The yellow metal has lost its shine for investors this week, with gold prices plunging on Friday to levels unseen since early July, 2020.

Gold futures for April touched $1,759 per ounce in early trading on Comex, but recouped some losses later in the day. As of 14:09 GMT, bullion prices were up around 0.4 percent higher at $1,781.60.

Spot gold also started Friday’s trading at multi-month lows. The price of the precious metal fell to around $1,760, the lowest since last July. However, it rebounded later in the session to trade almost half-a-percent higher at $1,783 per ounce.

RTnews