On Wednesday Gold prices fell, reversing from more than a month cap scored in the prior trading session, while the popular greenback inched higher. The U.S. gold futures moved under 0.49% at $1,240.1 per ounce while the popular spot gold continued down about 0.3% at $1,234.70 per ounce, after scoring its high-priced level since late October at $1,241.86 an ounce in the previous trading session. Brian Lan, managing director at dealer Gold Silver Central in Singapore said “Gold is mainly tracking the U.S. dollar," and he added, "Today's move in gold prices is a correction because yesterday prices were up quite a bit."
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Daily Analysis - 05/12/2018