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    Forex News from New Forex: Gold prices decline after a firm rise

    Gold price lose ground in the trading on Monday as worries over the Brexit slightly weaken. The possibility of Brexit would boost positions of gold and in case of a positive decision, gold might rise to $1,350 this week.

    Gold futures with the delivery in August shed 0.95% to 1.282.50 a troy ounce. Last week the precious metal hit a 2-year high at $1,318.90.

    Spot gold lost 1.41% to 1.279.85, the biggest intraday fall since May 24. Meanwhile, gold holdings in the largest EFT-fund SPDR Gold Trust increased by 0.59% to 907.88 tonnes, a high since October 2013.

    Silver futures with the delivery in July edged down to 0.29% to 17.355 a troy ounce. We expect that global markets will stay quite volatile until the referendum outcome in the UK, traders should watch carefully the market situation.

    NewForex Analyst

    Luigi Campo


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