Gold futures on the COMEX Division of the New York Mercantile Exchange fell for the second day on June 30 as dollar quickly moved higher and crude oil slumped. Silver and platinum both went down, too.
Gold price for August delivery lost 13.30 U.S. dollars, or 1.4 percent, finishing at 927.40 dollars an ounce.
On Tuesday morning, the dollar surged against most of its major counterparts. The rate against euro went up 1.37 cents in 2 hours, hitting the intraday high of 1.3999 dollars. Meanwhile, the dollar index topped 80. As a result, Strong dollar stole the precious metal's appeal of safe-haven.
Plummeting crude oil and grains brought additional spillover pressure to the yellow metal.
The benchmark crude for August delivery in New York dipped 2.45dollars to settle at 69.04 dollars a barrel by the end of gold floor trading time.
In Chicago Board of Trade, the grain futures moved much lower after the U.S. Department of Agriculture released its updated acreage and quarterly stocks report. Corn future even hit limit down in the floor session.
On the economic front, the New York-based Conference Board reported that its Consumer Confidence Index is at 49.3, down from its revised May level of 54.8, indicating U.S. consumers grew more pessimistic in June about their future.
September silver finished at 13.60 dollars per ounce, down 37.5cents. October platinum fell 7.90 dollars to 1185.30 dollars an ounce.
Source:Xinhua
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