Gold Set for Worst Week in More Than 4 Months on Global Selloff
This article is for subscribers only.
Gold headed for its worst weekly performance in more than four months as investors sold the metal alongside global equities and other commodities on concern the world economy will falter.
Immediate-delivery gold traded little changed at $1,740.07 an ounce at 3:34 p.m. Singapore time, after swinging between gains and losses. It earlier fell to a one-month low of $1,720.53. The metal is down 3.9 percent this week, the biggest drop since the period to May 6. December-delivery bullion in New York declined as much as 1.1 percent to at $1,722.30, also the lowest in a month, and traded at $1,742.50.