Gold Rout Takes Prices Near $1,200 as Investors Favor Dollar
- Metal set for fourth weekly decline, worst run since October
- Prices touch lowest since March 2017 as ETF holdings fall
Photographer: Akos Stiller/Bloomberg
This article is for subscribers only.
Investors are turning their backs on gold.
The metal is near the lowest in more than a year, edging closer to a key $1,200-an-ounce level, and is heading for the longest run of weekly losses since October. Gold’s appeal has waned, even amid ongoing trade-war tensions, partly because of an upbeat outlook on the U.S. economy that’s strengthened the dollar.