Market Chatter: Gold Futures Drop Nearly $28 an Ounce
"Strength in the dollar and a rally in U.S. equities combined with a bearish gold outlook from Goldman Sachs to push futures prices for gold down by nearly $28 an ounce on Wednesday. The decline came just a day after prices marked their highest closing level since April 1," MarketWatch reported.
It said: "June gold sank $27.90, or 1.8%, to settle at $1,558.80 an ounce on the Comex division of the New York Mercantile Exchange. That was the biggest one-day dollar and percentage loss since November, according to FactSet data."
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