Yellow metal loses sheen as global economic risks recede
By Wu Yiyao in Shanghai | China Daily | Updated: 2014-06-04 06:58
The price of gold slid 3.8 percent in May, the biggest monthly loss so far this year, as hedging demand contracted amid stabilizing global economic conditions.
Gold futures at the New York Commodity Exchange closed at $1,246 per ounce for August delivery last Friday, the final trading day of May. That was the lowest close since February.
In China, prices at the Shanghai Futures Exchange and Shanghai Gold Exchange also slumped to their lowest since February.
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