Gold en route its worst month in 4 years
- Date: 30-Nov-2020
- Source: Gulf Today
- Sector:Oil & Gas
- Country:saudi-arabia-top-picks
Gold en route its worst month in 4 years
Gold prices slump on Monday in what is likely to be its worst in four years, due to investors taking up riskier assets as hope for the vaccine to revive the economy increases.
Spot gold declined about 1% to $1,771.22 per ounce by 04:52 GMT, shedding 5.7% so far this month - its biggest since November 2016.
Michael McCarthy, chief strategist at CMC Markets said, "vaccine-inspired optimism about an economic bounce is really eroding the attraction of safe-haven investments like gold.“
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