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Gold extends losses before the referendum

Gold futures today, before the opening of the European trading session, extended losses and declined, for the last two weeks, toward the weakest level.

The investors resume focusing on Thursday's upcoming referendum in Britain where the citizens will decide whether, or not, the nation should remain to be a member of the EU.

Gold performs its biggest daily loss

On the New York Mercantile Exchange in the Comex division, gold for August delivery reached its lowest zone, since June 9, to $1,263.80 a troy ounce. At 2:50AM ET the commodity oscillated at $1,267.45 and was 0.4% or $5.05 lower.

Yesterday, the precious metal performed its largest daily loss within a period of one month tumbling 1.52% or $19.60, amid the growing expectations that Britain will likely remain in the EU.

Moreover, Janet Yellen commented that, in the scenario where the U.K leaves the EU negative economic consequences could take place.

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Wednesday, 22 Jun, 2016 / 7:32

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Source : https://www.argusfx.com/en/research-education/market-analysis/news/gold-extends-losses-before-the-referendum

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