Gold Rebounds on Global Markets Following Significant Rise
Gold prices fell on international markets on Monday, following a significant rise observed during the previous session. This decline comes amid low trading volumes and the closure of several major financial centers due to public holidays.
Low Liquidity and Profit-Taking
This drop is mainly attributed to weak trading conditions caused by the closure of U.S. and Chinese markets. This situation prompted some investors to take profits after nearly a 2.5% increase in the prior session.
Declines in Spot Gold and Futures Contracts
As of 01:11 GMT, spot gold had decreased by 1.1%, settling at $4,986.32 per ounce.
Meanwhile, U.S. gold futures for April delivery fell by 0.8% to $5,005.60 per ounce.
Other Precious Metals Also Decline
The downward trend has also impacted other precious metals. Silver saw a drop of 2.4%, pricing at $75.64 per ounce after gaining about 3% on Friday.
Platinum fell by 0.8% to $2,045.11 per ounce, while palladium decreased by 0.7%, settling at $1,673.52 per ounce.
Markets Await New Signals
Investors are remaining vigilant on market developments, anticipating a return of liquidity following the holiday period, which could provide more clarity on the future trends in gold and precious metal prices.
