Gold Prices Are Sliding

As stock markets rally, metals are selling off.

Gold is down 1.3 per cent, silver is off 1.4 per cent, platinum is down 1.3 per cent, and copper is down 0.5 per cent. Palladium is however up 0.40 per cent.

Gold had its “biggest one day rally in three months” yesterday, according to Reuters, after Fed chairman Ben Bernanke said the Fed was committed to easy monetary policy during his testimony.

But gold prices are down today as investors are concerned about the precious metals outlook in the long-term and after ETF holdings saw outflows, according to Reuters.

Here’s a look at today’s gold sell-off:

gold chart

Photo: Fin Viz

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