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- Gold price show a negative dynamic
Gold price show a negative dynamic
Gold prices fell slightly today, helped by renewed risk appetite. In addition, some investors opted to take profits after a sharp rise on Friday, which was caused by the news of the military coup attempt in Turkey.
On Sunday, the Turkish government announced the full restoration of control over the country and the economy after the failed military coup. Over the weekend, the government arrested some 6,000 military and judges, who are suspected of involvement in the coup.
"Gold has always received support during the political turmoil, however, the rise in prices does not last long and quotes will soon return to their former positions, which is what happened today. However, because of the events in Turkey, investors for a while forget about Brexit", - said, ActivTrades analyst Carlo De Kase. Recall, gold has risen in price for two weeks after the vote for Britain's withdrawal from the European Union.
Gold pressure also indicates the strengthening of the dollar.
Meanwhile, Commodity Futures Trading Commission showed that in the week to July 12, money managers and speculators reduced their bets on a record rise in prices for the first time in the last five weeks.
The cost of the August gold futures on the COMEX fell to $ 1330.0 per ounce.
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