New York gold futures ended lower on Friday (Jan 21), pressured by a sell-off from institutional investors. After the price hit a two-month high earlier this week.
The COMEX (Commodity Exchange) gold contract will be delivered in Feb. It was down $10.8, or 0.59%, at $1,831.8/ounce. but rose 0.8% this week. increased for the second week in a row
Silver metal contract delivered in March It was down 39.6 cents, or 1.6%, to close at $24.32 an ounce.
The platinum contract will be delivered in April. It was down $15.7, or 1.49%, at $1,035.1/ounce.
Palladium contract delivered in March It was up $30.60, or 1.5%, at $2,104.30 an ounce.
The gold futures fell on profit taking after gaining sharply in the past.
However, market analysts believe that Investors continue to buy gold contracts as a safe haven. Amid concerns about inflation and stock market crashes This resulted in the gold contract price rising for the second week in a row.