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Second day of losses for gold

The gold closed with a negative sign on Tuesday, completing two consecutive negative sessions, with the precious metal still climbing intra-conference to a five-month high.

The positive data that saw today the light of publicity for the retail sales and the course of the industrial production led to the upward ground of the Wall Street indices, diminishing the attractiveness of the precious metal as an alternative investment.

In particular, the December gold delivery contract lost $ 12.50 or 0.7% and closed at $ 1,854.10 per ounce, having reached a high of $ 1,879.50. This was the highest level since June 14.

Prices fell 0.1% on Monday, ending an uptrend in seven consecutive sessions.

Silver also lost ground, with the December contract losing 16 cents, or 0.6%, to $ 24,944 an ounce.

The data released today showed that retail sales jumped 1.7% in October, exceeding analysts’ estimates for an increase of 1.5%. At the same time, industrial production climbed 1.6%, easily exceeding estimates for a rise of 0.8%.

December copper, meanwhile, lost 1.1% to $ 4,352 a pound. As for the rest of the metals, January platinum plunged 2% to $ 1,074.50 per ounce, while palladium December gained 0.5% to $ 2,167.60 per ounce.

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