Thursday, 1st June 2006 (2794 views)

Gold hit a one-month low today (Monday June 1st) after falling by two per cent.

Analysts blamed the drop on a stronger dollar and predicted further decline in the coming days.

Gold was trading in New York at $630.50 per ounce earlier today.

"In sessions ahead, it's very likely that we can see further weakness, possibly tests toward $600 an ounce," Yingxi Yu, precious metals analyst at Barclays Capital, told the Reuters news agency.

But looking further ahead she added: "We are still maintaining our positive views on the medium to long-term basis because the macro-economic environment should be positive."

Other precious metals also fell, with silver and platinum both down on the day.

 

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